Campaign India Team
Nov 28, 2019

Times Group and Mukesh Ambani in talks to take over latter's news assets?

Talks are at a premature stage, according to media reports

On the contrary, Reliance Industries has denied reports of selling its news business to The Times Group, reports PTI
On the contrary, Reliance Industries has denied reports of selling its news business to The Times Group, reports PTI

Billionaire Mukesh Ambani's holding company, Reliance Industries, is in talks with The Times Group (Bennett, Coleman and co. ltd.) to sell the former's media assets to the publisher of The Times of India and The Economic Times.

Bloomberg Quint reported that Ambani is considering various options ranging from an outright exit to a stake sale in Network18 Media & Investments.

Earlier, there were reports that Ambani might sell a stake in Network18's entertainment business to Sony.  

Shares of Network18 rose by as much as 10 percent on Thursday, its highest level in almost six months. Network18 was acquired by Reliance Industries in 2014, owns and operates 56 local channels spanning news and entertainment. News properties include MoneyControl, News18, CNBCTV18.com, CricketNext and Firstpost. Shares of its subsidiary TV18 Broadcast, which houses news channels, also increased by nearly 7 percent. According to business newspaper, Mint, more suitors are likely to emerge in the race as talks between the two are at a preliminary stage.

However, according to newswire Press Trust of India (PTI) Mukesh Ambani's Reliance Industries has denied reports of selling its news media business to Times Group.

Source:
Campaign India

Follow us

Top news, insights and analysis every weekday

Sign up for Campaign Bulletins

Related Articles

Just Published

Premium
News broadcasters seek parity in GST with print media
Premium
1 day ago

News broadcasters seek parity in GST with print media

Members of the News Broadcaster’s Federation have requested to be treated at par with the print industry under GST

Premium
One Source bags the mandate for Balance Hero
Premium
1 day ago

One Source bags the mandate for Balance Hero

The account was won after a multi-agency pitch process and the mandate will be spearheaded out of Delhi-NCR

Premium
Swiggy takes expletives out of the menu as it stands up for customer care executives
Premium
2 days ago

Swiggy takes expletives out of the menu as it ...

Watch the film conceptualised by the in-house team here

Premium
Weekend Laugh: Producer's Diary by Dalbir Singh
Premium
2 days ago

Weekend Laugh: Producer's Diary by Dalbir Singh

The co-founder of Kiss Films presents his weekly sketches for Campaign India