In a move that signals the emergence of industrialist Mukesh Ambani as a media mogul, Reliance Industries Ltd (RIL) has acquired a controlling stake in Network18. The announcement came on 28th May when the Board of Reliance industries approved funding of Rs. 4000 crore to Independent Media Trust (IMT), of which RIL is the sole beneficiary for taking over Network 18. IMT would use the funds to acquire control over Network18 and TV 18, resulting in ownership of about 78% in Network18 and 9 per cent in TV18, and to acquire shares tendered in the open offer.
“Platform Service, according to TRAI are programmes transmitted by the Distribution Platform Operators, exclusively to their own subscribers and doesn’t include Doordarshan channels and TV channels permitted under Downlinking guidelines.”