Reliance Retail acquires 30-year-old designer majority stake Abraham & Thakore
Reliance Industries is doubling down on the media business with a strong push to both broadcasting as well as digital media by inducting marquee investors and launching big-ticket investments.
The company is also planning to raise funds upwards of Rs 12,000 crore from financial investors, according to industry sources, to beef up the media business. Reliance will also invest its own capital into the domain.
With such a large financial war-chest, Reliance is ready to take on the likes of Amazon, Netflix and Hotstar. Reliance has roped Uday Shankar, former Star & Disney India chairman, and James Murdoch, as strategic partners in the growing media business, according to the sources. Both individuals will play a vital role in contributing to the growth in the media business, they said.
