Network18 Media & Investments and TV18 has announced a scheme of arrangement in terms of which TV18 and E18 (which owns and operates the moneycontrol) will merge with Network18.
With this, Network18 aims to create a platform-agnostic news media conglomerate with a linguistic footprint across TV and digital platforms.
The merged entity will include the TV portfolio of TV18, consisting of 20 news channels in 16 languages and digital assets of Network18 (News18.com platform across 13 languages
and Firstpost) as also moneycontrol website and app. Viacom18 with its portfolio of JioCinema
and 40 TV channels will be a direct subsidiary of Network18.
A statement from the media company informed that Network18 will retain its investment in BookMyShow.
The merger offers shareholders a unique opportunity to participate in the media business of the group through a single listed entity.
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