The scheme of arrangement is subject to all necessary approvals, the company said.
Join Mint channel in your Telegram and stay updated with the latest business news. The combined Broadband entity will serve 1 mn wireline broadband subscribers across the country. The appointed date for the merger shall be February 1, 2020, the company said. Network 18, one of India’s largest listed media companies, will become an entity with about Rs 8,000 crore in annual revenue and benefit from substantial economies of scale. You are now subscribed to our newsletters. The broadcasting business will be housed in Network18 and the cable and ISP businesses in two separate wholly owned subsidiaries of Network18, RIL had in November 2014 taken over Network 18 Media and Investments Ltd through its Independent Media Trust. The scheme, the statement said, shall also simplify the corporate structure of the group by reducing the number of listed entities. The company said, consolidation of cable businesses of Den and Hathway in one entity will leverage the combined strength of the 27000 local cable operator partners who act as the touchpoints to 15 million households in India; delivering localized, people-friendly and ultra-fast customer services. Mukesh Ambani's Reliance Industries to Merge Media & Distribution Properties under Network18 According to the share exchange ratio approved by the board, shareholders will get 92 shares of Network18 for every 100 shares of TV18; 78 shares of Network18 for every 100 shares of Hathway and 191 shares of Network18 for every 100 shares of Den. In case you can’t find any email from our side, please check the spam folder. Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments.
Network18 owns TV channels, websites, magazines and general entertainment channel among other businesses. Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments.
The broadcasting business will be housed in Network18 and the cable and ISP businesses in two separate wholly owned subsidiaries of Network18. Click here to read the Mint ePaperMint is now on Telegram. Your session has expired, please login again. The statement added that Network18 will be an integrated media and distribution company with a revenue of Rs. It'll just take a moment. Reliance Industries Ltd (RIL) today announced a consolidation of its media and distribution businesses spread across multiple entities into Network18. RIL had in November 2014 taken over Network 18 Media and Investments Ltd through its Independent Media Trust.
8,000 crore and will be net-debt free at consolidated level. MUMBAI : Reliance Industries Ltd (RIL) today announced a consolidation of its media and distribution businesses spread across multiple entities into Network18. Log in to our website to save your bookmarks. "The restructuring shall create value-chain integration, and render substantial economies of scale," Network 18 said in a statement to the BSE. Copyright © HT Digital Streams Limited All rights reserved.
MUMBAI : RIL Chairman Mukesh Ambani has announced that Den and Hathway are being merged with Network18 to make it the largest listed media and distribution company. Network 18 will be net-debt free at the consolidated level. The broadcasting business will be housed in Network 18 and the cable and internet broadband businesses will be wholly-owned subsidiaries of Network 18, with February 1, 2020 as the appointed date for the merger. "The reorganization furthers the group strategy of building a media powerhouse that is agnostic across pipes, platforms and screens.The aggregation of a content powerhouse across news and entertainment (both linear and digital) and the country’s largest cable distribution network under the same umbrella shall boost efficiency and exploit synergies, creating value for all stakeholders," it said. RIL board had approved funding of ₹4,000 crore for taking over Network18. The Appointed Date for the merger …
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