Monday - May 14, 2007 Televisionpoint.com Correspondent Through a combination of block deals and open market operations, Anil Ambani-run Reliance Capital has acquired a little over 5% in Network 18 Fincap, the holding company for the TV18 group. Network 18 has a 49.2% stake in Television Eighteen India, which operates the CNBC-TV18 and CNBC Awaaz channels.
This is the younger Ambani's third significant investment in the listed media space. His other interests in the media space are in TV Today, the India Today group company, and Global Broadcast News (GBN), the company that runs the CNN-IBN and IBN 7 news channels. Through other group companies, including Reliance Mutual Fund, Anil Ambani also holds a little over 4% in Television 18, a Network 18 group company.
