Reliance to acquire controlling stake in NW 18

India's largest private sector company Reliance Industries Limited (RIL) is set to invest upto Rs 4,000 crore via Independent Media Trust (IMT) to acquire Network 18 Media & Investments (NW18) and its subsidiary TV18 Broadcast, leading content companies in the digital space.

RIL Board approved this funding on May 29, 2014. This will result into ownership of about 78% in NW18 and 9% in TV18 for IMT. The open offers are to be made consequent to the acquisition.

NW18 is the owner of a suite of premier digital internet properties, e-commerce businesses and differentiated broadcast content.

This acquisition will differentiate Reliance 4G business by providing a unique convergence of telecom, web and digital commerce via a suite of premier digital properties. The offerings span from news, aggregation and distribution to entertainment and e-commerce.

This suite includes In.com, IBNLive.com, Moneycontrol.com, Firstpost.com, Cricketnext.in, Homeshop18.com, Bookmyshow.com; and the broadcast channels include Colors, CNN IBN, CNBC TV18, IBN7, CNBC Awaaz.