Japan's Sony in talks to buy stake in India's Network18 Media: Bloomberg

Japan's Sony in talks to buy stake in India's Network18 Media: Bloomberg

(Reuters) - Japan’s Sony Corp (6758.T) is in talks to acquire a stake in Indian billionaire Mukesh Ambani’s TV business, Network18 Media & Investments Ltd (NEFI.NS), Bloomberg reported on Thursday. Ambani’s Reliance Industries Ltd (RELI.NS), through various subsidiaries, owns a controlling stake in Network18, which has a market capital of about 30 billion rupees($417.66 million). Network18 shares rose 18%, while shares of TV18 Broadcast Ltd (TVEB.NS), the broadcast arm of the Network 18 group, were up 4%. Sony is doing due diligence and considering several potential deal options, Bloomberg reported, citing people familiar with the matter.

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