India's Reliance Industries Ltd , controlled by Asia's richest man Muk...
), controlled by Asia’s richest man Mukesh Ambani, on Thursday denied a Bloomberg report that it was in talks to sell its news assets to local media conglomerate Times Group.
Bloomberg, citing unnamed sources, reported earlier on Thursday that Bennett Coleman & Co, also known as the Times Group, was looking to hire advisers to run due diligence on the news properties of Reliance’s Network 18 Media and Investments Ltd . Reliance’s Network 18 runs a range of news properties including News18, CNBCTV18.com, MoneyControl and Firstpost, and operates entertainment TV channels such as Colors, MTV India, VH1 and Comedy Central India.Shares in Reliance, an oil-to-telecoms conglomerate and India’s most valuable company, ended 0.7% higher.
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