RIL board has approved the funding of up to Rs 4,000 crore to control 78 per cent in Network18 and 9 per cent in TV18.
Network18 is the owner of a suite of premier digital internet properties, e-commerce businesses and differentiated broadcast content.
IMT will use the funds to acquire control over Network18 and TV18, resulting in ownership of about 78 per cent in Network18 and 9 per cent in TV18.
This acquisition will differentiate Reliance's 4G business by providing a unique amalgamation at the intersect of telecom, web and digital commerce via a suite of premier digital properties.
This suite includes In.com, IBNLive.com, Moneycontrol.com, Firstpost.com, Cricketnext.in, Homeshop18.com, Bookmyshow.com; the broadcast channels include Colors, CNN IBN, CNBCTV18, IBN7 and CNBC Awaaz.