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Mukesh Ambani

Invests $700 million in media

30 May, 2014

Ambani invests $700 million to take controlling interest in two of India’s top media companies– Network18 Media & Investments Ltd and TV18 Broadcast Ltd. The investment follows a global trend where telecommunications companies are snapping up content firms. The deal gives Reliance access to a huge library of video content and websites as TV18 owns and operates news stations CNBC-TV18, CNN-IBN, IBN7 and CNBC-Awaaz. TV18 also partners in a joint venture with Viacom Inc to run entertainment, music and children’s stations in India.