TV18 Broadcast, Network18 Media, Den networks and Hathway Cable jump up to 20% on merger news

NEW DELHI: Shares of four Reliance Industries-owned businesses jumped up to 20 per cent in Tuesday’s trade after the promoter decided to merge all media and distribution businesses under one umbrella brand ‘Network18’.

Under the scheme, TV18 BroadcastNSE 13.77 %, Hathway CableNSE 20.00 % & Datacom and Den Networks will merge into Network18 Media & Investments, which will be an integrated media and distribution company with a revenue of Rs 8,000 crore