Den and Hathway are being merged with Network18 and TV18 in a move that will consolidate Reliance Industries’ media and distribution businesses, said Mukesh Ambani, Chairman and Managing Director, RIL.
Network18 Group has 72 channels across news and entertainment, reaching more than 800 million Indians.
“Our digital properties are now used by almost 200 million people every month. We are among the top 10 digital news players across sectors. We are consolidating our media and distribution businesses. Den and Hathway are being merged with Network18 and TV18, subject to regulatory approvals. This will make the Network18 group the largest listed media and distribution company in the country,” said Ambani.
In October 2018, RIL announced it will buy majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for ₹5,230 crore.
Market analysts said the move to consolidate the media businesses could be a precursor to getting a strategic investor.