Campaign India Team
Jun 02, 2014

Reliance Industries acquires majority stake of Network18

The company has now gained 78 per cent stake of Network18; reports indicate Raghav Bahl's exit

Reliance Industries acquires majority stake of Network18
Reliance Industries (RIL) has increased its stake to 78 per cent at Network18 to gain majority control of the media company. 
On 29 May, the board of RIL approved funding of upto Rs 4,000 crore to Independent Media Trust (IMT), of which RIL is the sole beneficiary, for acquisition of control in Network 18 Media & Investments (NW18) including a nine per cent stake of TV18 Broadcast Limited (TV18). 
According to a release issued by the company, the acquisition will differentiate Reliance’s 4G business by providing a unique amalgamation at the intersect of telecom, web and digital commerce via a suite of premier digital properties. This suite includes,,,,,, Network18's broadcast channels include Colors, CNN IBN, CNBC TV18, IBN7 and CNBC Awaaz. 
It has also been reported that Raghav Bahl, founding/controlling shareholder and managing director, Network18 has left the company. Media reports had quoted an internal email sent out by Bahl informing NW18 employees that he would be exiting the company.
Campaign India

Related Articles

Just Published

1 hour ago

Omnicom organic revenues slide 1.8% in Q1

But the holding company rebounded after a 9.6% organic year-over-year growth decline in Q4 last year

1 hour ago

Cred now gets Kumar Sanu going to doorsteps to sell ...

Watch the film conceptualised by the team of Tanmay Bhat, Devaiah Bopanna, Puneet Chadha, Nupur Pai and Vishal Dayama, and DDB Mudra here

8 hours ago

Two-thirds of IPML viewers believe Mumbai Indians ...

Havas Sports & Entertainment has unveiled the proprietary report

9 hours ago

Sensodyne urges consumers to be sensitive only to ...

Watch the film conceptualised by Grey Group here