S&R Associates represented Citigroup – financial advisor to Network18 Media in the merger of cable networks
S&R Associates represented Citigroup as financial advisor to the board of directors of Network18 Media & Investments Limited in relation to the proposed merger of TV18 Broadcast Limited, DEN Networks Limited and Hathway Cable and Datacom Limited with Network18.The development comes in the wake of Reliance Industries Ltd (RIL) announcing a consolidation of its media and...
S&R Associates represented Citigroup as financial advisor to the board of directors of Network18 Media & Investments Limited in relation to the proposed merger of TV18 Broadcast Limited, DEN Networks Limited and Hathway Cable and Datacom Limited with Network18.
The development comes in the wake of Reliance Industries Ltd (RIL) announcing 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.
According to a BSE filing by Network 18, the restructuring shall create value-chain integration, and render substantial economies of scale.
RIL had taken over Network 18 Media and Investments Ltd through its Independent Media Trust in November 2014.
Network18 owns TV channels, websites, magazines and general entertainment channel among other businesses. RIL board had approved funding of Rs. 4,000 crore for taking over Network18.
The S&R team was led by partners Sandip Bhagat and Sudip Mahapatra, and included associate Lakshmi Pradeep.