• About
  • Contact
Friday, July 1, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Mukesh Ambani Might Sell Network18 Media To Times Group

Pritish raj by Pritish raj
November 29, 2019
in Marketing, News
Reading Time: 2 mins read
A A
0
Network18 Media- Next Big Brand

Network18 Media- Next Big Brand

  • 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

20220630 185323
Cryptocurrency

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team
Cryptocurrency

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
WhiteHat Jr Ads- Next Big Brand
News

Byju’s-owned WhiteHat Jr Lays Off 300 Employees

June 29, 2022
Reliance CEO Mukesh Ambani
Industries

Mukesh Ambani Resigns as Director of Reliance Jio, Son Aakash Ambani Named Chairman

June 28, 2022
png 20220628 164551 0000
Cryptocurrency

Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys

June 28, 2022
20220627 152251 0000
News

Proptech Startup PropShare Raises $47 Million Led by WestBridge Capital

June 27, 2022
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.

BROWSE BY TOPICS

Acquiring amazon Apple Brands brand story Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian Crypto Startups Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection NFT India Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india startups in india Swiggy Tiktok Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad WazirX YouTube Zomato
check more news on that pages youtube converter, filme online 2022, filme porno mature, porno amatoriale, nxnxx.org, https://xvideosxnxx.org, https://xoxporn.net

Instagram

Follow Me!

Recent News

  • Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption
  • World’s First NFT Museum Launched By Metawhale World
  • Byju’s-owned WhiteHat Jr Lays Off 300 Employees

Latest News

20220630 185323

Binance Taps Most Popular Tiktok Star Khaby Lame To Drive Web3 Adoption

June 30, 2022
Metawhale Team

World’s First NFT Museum Launched By Metawhale World

June 30, 2022
  • 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
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

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.