RIL media business merger an opportunity to scale up, take on rivals: Experts

New Delhi: Mukesh Ambani-owned Reliance Industries Ltd (RIL) looks at a major opportunity to scale up and take on industry rivals as it announced the merger of its media and distribution businesses spread across multiple entities into Network18. With listed companies such as Zee Entertainment Enterprises Ltd and Sun TV Network as its competitors, RIL could enhance to an integrated media and entertainment company with revenue of ₹80 billion, emerging as one of the largest media entities in the country after the Star network at Rs. 120 billion.

Under the Scheme of Arrangement approved on Monday, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media and Investments. The broadcasting business will be housed in Network18 and the cable and ISP (internet service provider) businesses in two separate wholly-owned subsidiaries of Network18.