Network18 Media & Investments Limited — Important, 31-12-2024: General Updates

Viacom18 Media Private Limited has ceased to be a subsidiary of Network18 Media & Investments Limited, following shareholder approval for the change in control. Reliance Industries Limited (RIL) has converted 24,61,33,682 compulsorily convertible preference shares into equity shares, raising its ownership stake to 83.88%. Consequently, Network18 holds 16.12% of Viacom18's equity share capital. This change significantly impacts Network18's consolidated financials, as Viacom18 represented 90.39% of its net worth for the financial year 2023-24, amounting to Rs. 26,928.17 crore. Investors should monitor the implications of this strategic shift on Network18's operational control and financial health moving forward.