India's Reliance in talks to sell news assets to Times Group: Bloomberg
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WEDNESDAY, FEBRUARY 08, 2023
India's Reliance in talks to sell news assets to Times Group: Bloomberg

World+Biz

Reuters
28 November, 2019, 03:55 pm
Last modified: 28 November, 2019, 04:00 pm

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India's Reliance in talks to sell news assets to Times Group: Bloomberg

Bennett Coleman and Co Ltd, which publishes The Times of India and owns news channels and news websites, is looking to hire advisers to run due diligence on Reliance's Network 18 Media and Investments Ltd

Reuters
28 November, 2019, 03:55 pm
Last modified: 28 November, 2019, 04:00 pm
The logo of Reliance Industries is pictured in a stall at the Vibrant Gujarat Global Trade Show at Gandhinagar, India, January 17, 2019. REUTERS/Amit Dave
The logo of Reliance Industries is pictured in a stall at the Vibrant Gujarat Global Trade Show at Gandhinagar, India, January 17, 2019. REUTERS/Amit Dave

Reliance Industries Ltd (RELI.NS), owned by Asia's richest man Mukesh Ambani, is in talks to sell its news assets to India's Times Group, Bloomberg reported on Thursday.

Bennett Coleman and Co Ltd, which publishes The Times of India and owns news channels and news websites, is looking to hire advisers to run due diligence on Reliance's Network 18 Media and Investments Ltd (NEFI.NS), Bloomberg said bit.ly/2QUWOI9, citing unnamed sources.

"As a policy, we do not comment on media speculation and rumors. Our company evaluates various opportunities on an ongoing basis," a Reliance spokesperson told Reuters in an email.

A Bennett Coleman spokeswoman declined to comment on the report.

Local media reported last week that Reliance was in talks with Japan's Sony Corp (6758.T) for a stake sale in Network 18 Media and Investments Ltd.

India's lucrative-but-crowded TV market is set to grow by more than 50% in the next three years, according to Statista, a statistics portal.

Telecom

Reliance / Times Group

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