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

Related Articles

Just Published

Premium
FoxyMoron bags Huawei's digital mandate
Premium
7 minutes ago

FoxyMoron bags Huawei's digital mandate

The agency's Gurugram office will handle the account

Premium
Ogilvy edges Mindshare as top titan in AOY Apac Network awards
Premium
15 minutes ago

Ogilvy edges Mindshare as top titan in AOY Apac ...

Media agencies UM and Mediacom split top APAC employee awards with a pair each.

Premium
Marquees 2019: Winners announced
Premium
31 minutes ago

Marquees 2019: Winners announced

Sector winners include Maruti Suzuki, Bajaj Auto, Bharti Airtel, Samsung, HDFC Bank, Xiaomi, Maggi, Bru, Harpic, Clinic Plus and Amazon

Premium
Weekend Laugh: Producer's Diary by Dalbir Singh
Premium
42 minutes ago

Weekend Laugh: Producer's Diary by Dalbir Singh

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