Reliance India Ltd acquires Network18

Mukesh Ambani owned Reliance Industries Ltd (RIL) is buying a majority stake in Raghav Bahl’s Network18 Media and Investments and its subsidiary TV18 Broadcast through Independent Media Trust (IMT), of which RIL is the only beneficiary.
The RIL gave nod to funding of up to Rs 4,000 crore to IMT, which will utilize the funds to acquire a 78% stake in Network18, a 9% stake in TV18 and shares tendered in an open offer to be made for public shareholders’ equity stake in Network18, TV18 and Infomedia Press Ltd (the publishing branch of Network18).
Network 18 owns a range of premier digital internet properties, e-commerce businesses and differentiated broadcast content.
Channels of Network TV
CNBC Awaaz, IBN-7, CNBC TV18 Prime HD, MTV India, CNN-IBN, CNBC-TV18, IBN-Lokmat, Nick India, Nick Jr. India, Sonic, VH1 India, Colors, Colors HD, Comedy Central,HomeShop18,Topper, ETV Network, History TV18, History TV18 HD
Internet Properties
moneycontrol.com, in.com, firstpost.com, Bookmyshow.com, poweryourtrade.com, commoditiescontrol.com, homeshop18.com, Cricketnext.com, Compareindia.com, tech2.in.com.

Month: Current Affairs - May, 2014