Broadcasting business will be housed in Network18 and the cable and ISP businesses in two separate wholly owned subsidiaries of Network18.
Now, Network18 will be an integrated media and distribution company with revenue of Rs 8,000 crore and net-debt free at consolidated level. The company also said that the scheme shall also simplify the corporate structure of the group by reducing the number of listed entities.
The company said: “The aggregation of a content powerhouse across news and entertainment (both linear and digital) and the country’s largest cable distribution network under the same umbrella shall boost efficiency and exploit synergies, creating value for all stakeholders.”
As reported, in 2018, Reliance Industries through its network of subsidiaries acquired major stakes in Den Networks and Hathway Cable and Datacom Limited after few days of announcement of its Fiber-to-the-home service.