Network18, TV18 rally on RIL plans to close merger with Disney India in Q3

Shares of media majors Network 18 Media and Investments and TV18 Broadcast soared up to over 9 per cent in intraday trade on Tuesday on the NSE after their parent organisation Reliance Industries gave an update on their merger with Disney India.

Reliance Industries is a majority stakeholder in Disney India, holding about a 16 per cent stake in the company, and Viacom18 (another Reliance venture) holding 46 per cent.