Reliance Industries Ltd.

BSE: 500325 | NSE: RELIANCE
Large Cap | Refineries
1412.40
-45.20 (-3.10%)
< Home < Back

Reliance’s arm Infotel signs MoU with TV18's two main companies

Date: 03-01-2012

Reliance Industries’ (RIL) subsidiary Infotel Broad Band Services (Infotel) plans to spend more than Rs 1,500 crore in media group TV18's two main companies through proposed rights issues. The company has signed the memorandum of understanding (MoU) with TV 18 and Network18 Media and Investments. Through this investment, Infotel will get the access to content, which will be helpful for its 4G broadband Internet venture. TV18 group firms Network18 Media and Investments and TV18 Broadcast will be able to cut its debt through this investment. 

As per the MoU programming and digital content of all the broadcasting channels of TV 18 and its associates will be offered to the Infotel as most preferred customer. Infotel is setting up a pan India class 4th Generation Broadband Network using state of all the technologies. 

Network18 Media and Investments runs business news portal moneycontrol.com and TV18 Broadcast operates television channels including CNBC-TV18 and CNN-IBN.