Campaign India Team
Nov 28, 2019

Times Group and Mukesh Ambani in talks to take over latter's news assets?

Talks are at a premature stage, according to media reports

On the contrary, Reliance Industries has denied reports of selling its news business to The Times Group, reports PTI
On the contrary, Reliance Industries has denied reports of selling its news business to The Times Group, reports PTI

Billionaire Mukesh Ambani's holding company, Reliance Industries, is in talks with The Times Group (Bennett, Coleman and co. ltd.) to sell the former's media assets to the publisher of The Times of India and The Economic Times.

Bloomberg Quint reported that Ambani is considering various options ranging from an outright exit to a stake sale in Network18 Media & Investments.

Earlier, there were reports that Ambani might sell a stake in Network18's entertainment business to Sony.  

Shares of Network18 rose by as much as 10 percent on Thursday, its highest level in almost six months. Network18 was acquired by Reliance Industries in 2014, owns and operates 56 local channels spanning news and entertainment. News properties include MoneyControl, News18, CNBCTV18.com, CricketNext and Firstpost. Shares of its subsidiary TV18 Broadcast, which houses news channels, also increased by nearly 7 percent. According to business newspaper, Mint, more suitors are likely to emerge in the race as talks between the two are at a preliminary stage.

However, according to newswire Press Trust of India (PTI) Mukesh Ambani's Reliance Industries has denied reports of selling its news media business to Times Group.

Source:
Campaign India

Related Articles

Just Published

23 hours ago

Women comprise 47% of India's online shoppers: ...

75% of Gen X and 73% of women respondents prefer convenience to discounts as the biggest factor drawing them to online shopping, finds a survey conducted by Ipsos.

1 day ago

MTR serves up a steaming bowl of culture and comfort

By fusing motherly love with Karnataka’s Yakshagana folklore, MTR’s latest campaign stirs up nostalgia and regional pride to drive brand love.

1 day ago

AI’s ‘Sputnik moment’: What DeepSeek could mean for ...

DeepSeek has dominated headlines and the discussions over AI for the past week. But what impact will it have on marketing?

1 day ago

The multi-screen juggle: How brands keep up with Gen Z

Today’s consumers seamlessly switch between mobile, CTV, and DOOH. Adtech firms are decoding cross-platform strategies to keep brands relevant everywhere.