• About
  • Contact
Thursday, January 28, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Media

Mukesh Ambani Might Sell Network18 Media To Times Group

Pritish raj by Pritish raj
November 29, 2019
in Media, News
2 min read
0
Network18 Media- Next Big Brand

Network18 Media- Next Big Brand

Share on FacebookShare on Twitter
  • Billionaire Mukesh Ambani is in talks selling his news media assets of Network18 Media Group to India’s Times Group, as the richest man in Asia is planning to unload a business that has lost money, said people familiar with the issue.
  • Network18 reported a group loss of 1.78 billion rupees ($25 million) in the year ended March, while the company reported a net debt of 28 billion rupees.

Billionaire Mukesh Ambani is in talks selling his news media assets of Network18 Media & Investments Ltd Group to India’s Times Group, as the richest man in Asia is planning to unload a business that has lost money, said people familiar with the issue.

Bennett Coleman & Co., Times of India’s publisher, is looking to hire advisors for due diligence on Ambani’s Network18 Media & Investments Ltd’s news properties, people said, asking not to be named as private discussions. Ambani is considering various options, one of the people said, ranging from an outright exit to a stake sale.

Talks are at an early stage and may not lead to a settlement, said the men, adding more suitors may emerge. The plan of the tycoon to dispose of his news assets comes as he pursues talks to sell to Sony Corp a stake in the entertainment division of Network18 that includes various channels of film, music, and comedy.

Network 18 Channels- Next big Brand
Channels Owned By Network18 Group

Last week, Bloomberg News reported that the Japanese giant is currently reviewing the Indian media company’s books and is exploring many potential deal structures. Network18 reported a group loss of 1.78 billion rupees ($25 million) in the year ended March, while the company reported a net debt of 28 billion rupees.

Network18 shares jumped up to 10 percent in Mumbai on Thursday and in nearly six months were headed for their highest level.

Ambani’s oil-to-petrochemicals conglomerate is in the midst of streamlining its operations and pivoting more toward relatively new ventures such as retail and technology for revenue. Last month, Reliance Industries unveiled a digital-services holding company that would eventually provide services from e-commerce to entertainment on a telecommunications network built over the last few years with about $50 billion in investment.

Network18, acquired by Reliance Industries in 2014, owns and operates 56 local channels spanning news and entertainment.

MoneyControl, News18, CNBCTV18.com, CricketNext, and Firstpost are among the news outlets. In Mumbai, shares of its affiliate TV18 Broadcast Ltd., which houses news channels, rose to 6.7 percent.

Shares in Reliance Industries reached a record high on Thursday, giving the company a market value of around $140 billion.

Unlisted Bennett Coleman, also known as the Times Group, owns TV channels, Times Now and ET Now included. It also publishes the Economic Times, a pink financial weekly, in addition to the Times of India.

Tags: Network18 channelsTimes Group
Previous Post

Playschool Chain Oi Is Acquired By Online Store FirstCry

Next Post

Manchester City Becomes Most Valuable Football Club In World

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Aditya Birla Fashion and Retail Strengthens its Apparel portfolio with 51% Stake in Sabyasachi
News

Aditya Birla Fashion and Retail Strengthens its Apparel portfolio with 51% Stake in Sabyasachi

January 28, 2021
Reckitt Benckiser (RB) leads INR 45 Crores investment round in Bombay Shaving Company
News

Reckitt Benckiser (RB) leads INR 45 Crores investment round in Bombay Shaving Company

January 28, 2021
FAU-G confirms its India Debut on 26 Jan
News

FAU-G Completes 5 Million Downloads Within 24 hrs of its Launch

January 27, 2021
ByteDance to Lay Off Employees in India Amid TikTok Ban Continuation
News

ByteDance to Lay Off Employees in India Amid TikTok Ban Continuation

January 27, 2021
Twitter Acquires Dutch Based Newsletter Startup Revue
News

Twitter Acquires Dutch Based Newsletter Startup Revue

January 27, 2021
Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector
News

Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector

January 26, 2021
Next Post
Manchester City - Next Big Brand

Manchester City Becomes Most Valuable Football Club In World

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

wework valuation-CEO-next-big-brand

Wework looks for a new CEO in T-Mobile’s John Legere

1 year ago
sportify india

Spotify To Launch In India on 31st January

2 years ago
Reliance Foundation- Next Big Brand

Reliance’s Work For Corona Response Is Most Resonating: Twitter,LinkedIn

9 months ago
Fashion Startup Flyrobe- Next bIg Brand

Fashion Rental Startup Flyrobe Is Acquired By Rent It Bae

1 year ago

FOLLOW US

  • 22.6k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Aditya Birla Fashion and Retail Strengthens its Apparel portfolio with 51% Stake in Sabyasachi
  • Reckitt Benckiser (RB) leads INR 45 Crores investment round in Bombay Shaving Company
  • FAU-G Completes 5 Million Downloads Within 24 hrs of its Launch

Instagram

Follow Me!

Latest News

Aditya Birla Fashion and Retail Strengthens its Apparel portfolio with 51% Stake in Sabyasachi

Aditya Birla Fashion and Retail Strengthens its Apparel portfolio with 51% Stake in Sabyasachi

January 28, 2021
Reckitt Benckiser (RB) leads INR 45 Crores investment round in Bombay Shaving Company

Reckitt Benckiser (RB) leads INR 45 Crores investment round in Bombay Shaving Company

January 28, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.