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Reliance’s demand for a majority stake is said to have resulted in talks being called off.
Synopsis
Digital media and entertainment are now essential pillars of Reliance Jio’s business and it has consequently decided to retain a majority stake and management control, according to people familiar with the matter, who said Reliance would invest and grow the digital media business.
Mumbai: Mukesh Ambani-owned Reliance Industries (RIL), which has a majority stake in Viacom18 though Network18, has called off the proposed merger of the entertainment businesses of Sony Pictures Networks India (SPN) and Viacom18, following a strategic rethink.Digital media and entertainment are now essential pillars of Reliance Jio’s business and it has consequently decided to retain a majority stake and management control, according to people
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