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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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