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Mukesh Ambani’s Associated Firms Reportedly Possess Over 43% Stake In Indian Media House “News Nation”

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Indian independent news company, NewsLaundry reported that Indian billionaire industrialist Mukesh Ambani owns over 43% stake in Indian media house News Nation. Companies linked to Ambani have funded around $55.17 Million in News Nation Network Pvt Ltd that runs News Nation, over a period of one decade. These investments in the tv network were made through purchase of equities and preference shares along with loans. In 2012, the company started offering its stocks to companies affiliated with Reliance. These conglomerates are linked to Ambani associate businessmen, Mahendra Nahata and Surendra Lunia.

According to MarketFeed, an Indian online educational platform for stock market trading, around two years back the Reliance chairman had revealed his ownership of 72 television channels that roughly comprises 95% of the total Indian viewership. Reliance’s Indian media house Network18 is amongst the top digital media platforms in India with over 690 Million viewership. Monthly an estimated 100 Million users visit Network18’s websites and apps including News18(dot)Com, Moneycontrol, Firstpost and the OTT platform Voot, all of which are a part of Web18 Software Services. India’s ticketing aggregator BookMyShow is also part of the same group.

In 2014, Reliance strategically acquired Network18 & Investments for roughly $ 501.5 Million, with a 75% ownership. The corporation has a franchisee arrangement with CNN Worldwide and CNN-News18 and owns a majority share in TV18 Broadcast. Under the terms of this franchise arrangement, the business will broadcast CNBC-TV18, CNN-IBN, and CNBC Awaaz. Viacom18 Media, another subsidiary of the firm, runs 50 channels under the brands MTV, VH1, Colors, Nickelodeon, and Comedy Central.

A report emerged from another Indian media house, Caravan which revealed deep controls and association of Mukesh Ambani and associates over five Indian media companies – NDTV, News Nation, India TV, News24 and Network18. Together their direct and indirect funds range from 20 to 70 percent. Recently, another Indian billionaire industrialist and chairman of Adani Group, Gautam Adani gained a majority stake in Indian media house NDTV.

Disclaimer: This article is based on a report published by Indian media house, News Laundry. Le Matinal is not responsible or liable for any of the facts or reports published above.

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