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Mukesh Ambani brings media and broadcast businesses under Network18

Mumbai, Reliance Industries (RIL) on Monday announced a consolidation of its media and distribution businesses spread across multiple entities into Network18.Under the scheme of arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments, the company said in a statement.Accordingly, the scheme’s share exchange ratio proposes that for every 100 shares of TV18, shareholders will receive 92 shares of Network 18, while, those of Hathway shareholders will get 78 shares and Den shareholders will get 191 shares.”The appointed date for the merger shall be February 1, 2020. The Board of Directors of the respective companies approved the scheme of amalgamation and arrangement at their meetings held today,” the company said in a statement.The broadcasting

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