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Network 18 stake goes to Reliance

Outfit operates CNBC-TV18, CNBC-Awaaz

HONG KONG — Reliance Capital, the media investment arm of Indian industrial conglom Reliance Anil Dhibubhai Ambani, has bought a 5% stake in Network 18.

The outfit is the holding company that operates news channels CNBC-TV18 and CNBC-Awaaz in India and Shopping network Shop 18. Its Studio 18 subsid is expanding its movie production and distribution business and is setting up a film fund that has applied for a listing on the London Stock Exchange.

Reliance Capital also has stakes in NDTV, Zee Enterprises, UTV Software and Adlabs Films.

Reliance Capital also has launched an open offer to buy 20% of the shares in TV Today, which runs Hindi news channel Aaj Tak and English news net Headlines Today.

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