Mukesh Ambani’s Reliance will Fund Raghav Bahl Led Network 18

India’s largest public sector company Mukesh Ambani owned Reliance Industries and media tycoon Raghav Bahl’s Network 18 has struck a deal yesterday. This is going to be one of the biggest deal in India’s broadcast business.

A joint announcement has revealed that this multi-layered deal is going to help each company to spread their business across media and telecom sector in India.

Under this deal RIL would sell a part of its share to Eenadu TV channels and would also fund Raghav Bahl-led Network 18 group which runs channels like CNBC TV18, CNN. Reliance would acquire some part of ETV’s stake at Rs 2,100 crore  in cash.

As per the deal, RIL would get access to content and distribution assets of the Network 18 for their pan-India 4G service.

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