Reliance Merges Den Networks and Hathway with Network18 Group

Reliance Industries announced various information regarding the present working and future prospects of the company

reliance-merges-den-networks-hathway-network18-group

Reliance Industries Limited held its 43rd annual general meeting (AGM) and announced the vision of the company for the next 15 years. Mukesh Ambani, Chairman and Managing Director of Reliance Industries announced that Google will invest Rs 33,737 crore for 7.7% stake in Jio Platforms. Apart from this, he also revealed that the company is working on Jio TV Plus, Glass and many more. One of the major announcements which were made by Mukesh Ambani was the merger of Den Networks and Hathway with Network 18 Group. The merger will simplify the corporate structure of the company by reducing the number of listed entities.

Network18 Group will Become Largest Listed Media and Distribution Company

Reliance Jio will merge the Den Networks and Hathway with Network18 Group to simplify the corporate structure of the entities. Also, the merger will be subjected to regulatory approvals. If the merger is approved, Network 18 Group will become the largest listed media and distribution company across sectors. Reliance Jio platforms own 78.62 of Den Networks and 71.95% in Hathway. Both Den Networks and Hathway has around 13 million and 11 million subscribers, respectively. Network 18 Group, which is owned by Reliance Industries, is reaching out to 800 million users. Also, the digital properties of the company are being used by nearly 200 million users in India every month.

Google Will Invest Rs 33,737 crore in Jio Platforms

One of the major announcements which were made by Mukesh Ambani was the partnership of Google and Reliance Jio platforms. Google will invest Rs 33,737 crore into Jio platforms for a 7.7 % stake. The partnership between Google and Reliance Jio will focus on developing a new Android smartphone which will cost less than an average 4G smartphone. The partnership between Google and Reliance Jio will also be subjected to regulatory approvals.

Reliance JioMart and WhatsApp will Create Growth Opportunities for Small Merchants

Mukesh Ambani also shared the future prospects of JioMart. Since the Jio-Facebook deal has been approved by CCI, JioMart and Facebook-owned WhatsApp will work closely to create growth opportunities for millions of Indians small merchants and enable customers to seamlessly transact with Kirana shops.

Shrijan loves the process of creating content in various verticals, whether it be words, sounds or videos. He's also inclined towards digital marketing and tech industry developments. The art of creation always intrigues his interest.

guest
19 Comments
newest
oldest
Inline Feedbacks
View all comments

Recent Posts

Telegram Rolls Out New Update with Support for Channel Comments and More

Telegram, the cloud-based multi-platform messenger app on Thursday introduced a new update with features such as search filter and channel...

ITI to Deploy Strategic Communication Network for Indian Army

ITI Limited, a telecom and defence equipment manufacturing PSU on Thursday said that it has signed a contract with the...

Tata Sky Set to Discontinue Over 30 Packages on October 16

Tata Sky, the largest Direct-to-Home (DTH) operator in India announced that over 30 of its custom curated packages including Hindi...