For Quick Alerts
For Daily Alerts

Network 18, TV18 Broadcast Shares Surge Up To 20% On Mega Media Merger


Shares of TV18 Broadcast, Den Networks, Hathway Cables, Network 18 surged up to 20% in early trade after RIL on Monday announced consolidation of its media and distribution assets under a single entity.

Network 18, TV18 Broadcast Shares Surge Up To 20% On Mega Media Merger

Hathway Cables shares hit 20% upper circuit at Rs. 23.10 per share on the BSE, Network 18 Media and Investments also hit 5% upper circuit of Rs. 30.05, TV18 Broadcast shares rallied up to 20% to hit day's high of Rs. 30.10 and Den Networks jumped as much as 10% to record a day's high of Rs. 59.50 per share.

Post the deal RIL said, Network 18, the country's biggest listed media entity would become a company with annual revenue of nearly Rs. 8000 crore and take advantage of significant economies of scale.

"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," Reliance said in a statement on Monday after the boards of the 4 companies met for approing the consolidation.

Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more