New Delhi: Sony is in talks to buy stake in Network18 Media and Investment Ltd controlled by Mukesh Ambani. Sony is considering several possible deal structures which include a bid for the company or a merger of its own Indian business with Network 18’s entertainment channel.
Sony is considering several potential deal structures, including a bid for the company or a merger of its own Indian business with Network18’s entertainment channels.
A successful deal may help the Tokyo based Company boost its local offerings. It will also help Ambani to access international content. The talks come at a time when competition is heating up between Netflix and Amazon Prime, both of which offer programs created locally to lure subscribers.
On Thursday, Network 18’s shares were trading 15 percent higher on BSE at Rs 29.60 as compared to its previous close.
Network’s channel portfolio comprise of VH1, MTV, CNBC TV18, Nickelodeon and news portals like Firstpost and Moneycontrol and many others. Sony operates in India through Sony Entertainment Television with a reach of nearly 700 million viewers in the country.