Mukesh Ambani’s Reliance Group Plans Media Foray

Business Standard: Mukesh Ambani’s Reliance Industries group is moving into media business again. The company plans to start three news channels, including one businesss and one for general news. Ernst & Young has done a feasibility study for the venture. The group has already appointed Prateek Basu, a former Disney manager, to head its media business.
The Observer Research Foundation will be the group’s vehicle for this business (Editor: I am not sure how this is possible since ORF is a not for profit foundation. A TV business is unlikely to be not for profit.) You may recall, the group had a newspaper in the 1990s (Observer of Business & Politics) which was later shut down.

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