Reliance Industries consolidates media and distribution business into Network18

Reliance Industries 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 01 February 2020.

The Board of Directors of the respective companies approved the Scheme of Amalgamation and Arrangement at their meetings held on 17 February 2020.

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

The restructuring shall create value-chain integration, and render substantial economies of scale. The Scheme shall also simplify the corporate structure of the group by reducing the number of listed entities.

Share exchange ratio:
92 shares of Network18 for every 100 shares of TV18
78 shares of Network18 for every 100 shares of Hathway
191 shares of Network18 for every 100 shares of Den
Reliance's holding in Network18 will reduce from 75% to 64% upon implementation of the Scheme.

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