RIL to merge its distribution, media business into Network18

MUMBAI : Reliance Industries Ltd (RIL) today announced a consolidation of its media and distribution businesses spread across multiple entities into Network18.

Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments. The appointed date for the merger shall be February 1, 2020, the company said.

“The restructuring shall create value-chain integration, and render substantial economies of scale,” Network 18 said in a statement to the BSE.

The broadcasting business will be housed in Network18 and the cable and ISP businesses in two separate wholly owned subsidiaries of Network18.