Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
News, as a business, faces its biggest crisis ever, globally. To fight it needs investment in feet-on-the-ground journalism, tech tools like artificial intelligence among other things.
Raghav Bahl's control diluted by resolution in Nov 2012; net cash outflow for RIL group entities about Rs 1,341 crore.
For more than a hundred years, media companies have been started and owned by corporates, in the US, Europe and in India as well.
RIL has completed Network 18s open offer after four months of acquiring the latter.
In the biggest ever deal in the Indian media sector, RIL will acquire control in Network 18 Media & Investments Ltd, including its subsidiary TV18 Broadcast Ltd.
RIL has also appointed McKinsey senior advisor Adil Zainulbhai as independent director and Network 18 Media & Investments (NW18) former promoter Raghav Bhel as a non-executive director on the NW18 Board.
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
RIL says Sebi has not asked for revision of offer price, expecting clearance soon.
The Network18 stock is down 4.2 per cent after the declaration of results to Rs 49.50 currently.
With Mukesh Ambani taking over Network 18, the space for disseminating a diverse range of views could shrink, feels Paranjoy Guha Thakurta.
News media takes a beating from the economy, advertisers and the rupee. To stay afloat, publishers are reacting by folding up businesses and axing staff.
For some, he is a visionary who grew his one-channel firm into a media giant by the sheer dint of his courage; for others, he is a compulsive risk-taker.
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