Network18 Media & Investments Limited (BSE:532798) entered into scheme of arrangement to acquire News Broadcasting, Cable and Broadband Businesses from TV18 Broadcast Limited (BSE:532800), Hathway Cable and Datacom Limited (BSE:533162) and DEN Networks Limited (NSEI:DEN) on February 17, 2020. As per the transaction, Network18 Media & Investments Limited will acquire News Broadcasting business from TV18 Broadcast Limited, Cable business from Hathway Cable and Datacom Limited and Broadband Business from DEN Networks Limited. In a related transaction, Network18 Media & Investments Limited entered into scheme of amalgamation to acquire TV18 Broadcast Limited, Hathway Cable and Datacom Limited and DEN Networks Limited on February 17, 2020. The Board of Directors of Network18 Media & Investments Limited, TV18 Broadcast Limited, Hathway Cable and Datacom Limited and DEN Networks Limited has approved the transaction. The transaction is subject to all necessary approvals including approval from shareholders and creditors of the companies which are party to the Scheme, approval of the BSE Limited, the National Stock Exchange of India Limited, the Securities and Exchange Board of India, the Central Government, the Honorable National Company Law Tribunal, the Department of Telecommunication and any other appropriate authorities as may be required. TriLegal Partners and Dhruva Advisors LLP acted as legal advisor and tax advisor for the transaction.

Network18 Media & Investments Limited (BSE:532798) cancelled the acquisition of News Broadcasting, Cable and Broadband Businesses from TV18 Broadcast Limited (BSE:532800), Hathway Cable and Datacom Limited (BSE:533162) and DEN Networks Limited (NSEI:DEN) on April 20, 2021.