Tag Archives: Reliance

Big media has become bigger – Media Diversity and Reliance’s takeover of Network 18: Smarika Kumar

Guest Post by Smarika Kumar

Big media has become bigger. The takeover of Network 18 by Reliance has consolidated news media in the country like nothing before. The Reliance-Network18 combination is, in fact, not exactly new. It was actually executed a couple of years ago in a very telling, roundabout fashion when Reliance lent money to Network18 through a trust called IMT, among other things, to buy all of its media properties. As a result of Network18’s debt, Reliance could then dictate to it the terms of repayment, which were agreed between the two entities in the form of debentures convertible to shares.

The resulting combination brings TV channels like CNBC-TV18, CNBC Awaaz, CNN-IBN, IBN7, IBN-Lokmat, ETV-Rajasthan, ETV-Bihar, ETV-Uttar Pradesh, ETV-Urdu, ETV-Marathi, ETV-Bangla, ETV-Gujarati, ETV-Kannada, ETV-Oriya, ETV-Telegu, ETV-2, Colors, MTV, VH1 and Nick; web content properties such as moneycontrol.com, ibnlive.com, and firstpost.com; as well as magazines like Forbes India under a single umbrella of ownership and control. (For a complete list of media properties held by Reliance currently, scroll to the end of this article.)

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Bye Bye Reliance: Pen Tehsil Says No SEZ!

In our continuing concern with the strange times that seem to have befallen our cities, lets not lose sight of the historic battle underway in the countryside. In the first instance of its kind, the referendum on the Maha-Mumbai Special Economic Zone being set up by Reliance has unambiguously returned the verdict of the farmers of Raigad- no SEZ in Pen! As Sanhati notes, the Tata’s 1500 crore investment in Singur sounds like loose change when compared to the one lakh crore that Reliance is planning to sink into 10,000 hectares. 22 villages in the Pen Tehsil voted against the acquisition of their lands at the paltry sum of 10 lakhs per acre. Unsurprisingly, Reliance Industries Limited has said the referendum is “not genuine”:

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