Reliance Industries to reduce holding in Network18 from 75% to 64%

Reliance Industries Ltd (RIL) on Monday announced a consolidation of its media and distribution businesses spread across multiple entities into Network18. Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will merge into Network18 Media & Investments. Reliance's holding in Network18 will reduce from 75% to 64% upon the implementation of the scheme.