Network18 Media surges 23% in two days as Sony eyes stake in company

Apart from a stake buy, some other options on the table include a merger of the entertainment businesses of Sony and Network18 Media, reports said

Shares of Network18 Media & Investments rallied 14 per cent to Rs 31.70 on the BSE on Friday, thereby surging 23 per cent in past two trading days on media reports that Sony is eyeing up to 30 per cent stake in Mukesh Ambani's media and entertainment company. The stock was trading at its highest level since June 4, 2019 on the BSE.

“Japanese major Sony Corporation is in preliminary talks with Mukesh Ambani’s Network18 Media & Investments for a possible stake buy, making it the second attempt by the group in 10 months for a local acquisition,” Business