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Network18 Media & Investments, which owns Reliance Industries' media assets, has received a three-month extension for convening its Annual General Meeting for FY24. The Registrar of Companies (RoC) on Tuesday granted its approval for extension of time for holding the AGM, accepting the application of the company, according to a regulatory filing from Network18 Media. Reliance is in the process of merging its media assets, including Network18 with global media giant The Walt Disney Co India business, which will create the country's largest media empire worth over Rs 70,000 crore. "This is to inform you that pursuant to the application filed by the company for extension of time for holding the 29th AGM of the company for financial year 2023-2024, Ministry of Corporate Affairs (office of the Registrar of Companies, Mumbai ) vide its order dated September 17, 2024, granted its approval for extension of time for holding the AGM," it said. Media ventures of Reliance are housed in ...
Network18 Media & Investments Ltd and TV18 Broadcast Ltd on Wednesday announced a consolidation of their TV and digital news businesses. The two companies announced a scheme of arrangement under which TV18 Broadcast (TV18) and e-Eighteen.com Ltd (E18), which owns and operates moneycontrol website and app, will merge with Network18. "The proposed scheme will consolidate TV and digital news businesses of the Network18 group in one company and will help create India's largest platform-agnostic news media powerhouse with the widest footprint across languages, straddling both TV and digital," the companies said in a statement. It will enable Network18 to consolidate and further grow its business from a position of strength. This will present a unique opportunity to all shareholders to participate in the media business of the group through one listed entity, the statement added. As part of the scheme, the share exchange ratio has been fixed at 100 shares of Network18 for every 172 ...