DEN Networks

Last updated

DEN Networks Limited
Company type Public
BSE:  533137
NSE:  DEN
Industry Telecommunications
Founded2007
Headquarters New Delhi, India [1]
Key people
S.N.Sharma, CEO
Products
Owner Reliance Industries (78.62%) [2] [3]
Website dennetworks.com

DEN Networks Limited is an Indian cable television and broadband service provider company in India. It is owned by Sameer Manchanda and was acquired by Reliance Industries in 2018 along with Hathway. [4] In 2003, it stood as one of the three major cable distributors in India alongside Hathway and InCablenet. [5]

On 17 October 2018, Reliance Industries announced that it had acquired a 66% stake in DEN for ₹2,290 crore (US$270 million). The shares would be held through multiple Reliance subsidiaries including Jio Futuristic Digital Holdings Private Limited, Jio Digital Distribution Holdings Private Limited, Jio Television Distribution Holdings Private Limited, Reliance Industries Limited Digital Media Distribution Trust, Reliance Content Distribution Limited and Reliance Industrial Investments and Holdings Limited. At the time of the acquisition, DEN had 106,000 broadband subscribers. [6] [7] [8] The acquisition received approval from the Competition Commission of India in January 2019. [9] Reliance acquired an additional 12.05% stake in DEN in March 2019 taking its total stake in the company to 78.62%. [10] [11]

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References

  1. ↑ "(DEN): Contact Us". Den Networks. Archived from the original on 13 March 2013. Retrieved 1 February 2011.
  2. ↑ "Reliance to buy majority stakes in Den Networks, Hathway Cable for Rs 5,230 crore". Economic Times. 18 October 2018.
  3. ↑ "RIL To Merge TV18, Hathway And Den Networks With Network18" . Retrieved 15 July 2020.
  4. ↑ Kapoor, Mudit (23 October 2018). "Reliance acquires 58.92% stake in Den Networks, 51.34% share in Hathway". Business Today . Archived from the original on 23 October 2018. Retrieved 15 January 2021.
  5. ↑ Kohli-Khandekar, Vanita (2003). The Indian Media Business. SAGE Publications. p. 67. ISBN   978-0-7619-9650-7.
  6. ↑ "Reliance acquires 58.92% stake in Den Networks, 51.34% share in Hathway". Business Today. 23 October 2018. Retrieved 7 April 2019.
  7. ↑ Reliance (17 October 2018). "Reliance Media Release". ril.com. Archived from the original (PDF) on 11 January 2019. Retrieved 11 January 2019.
  8. ↑ Kundu, Rhik (19 October 2018). "What Hathway and Den deals mean for Reliance Jio". Mint. Retrieved 7 April 2019.
  9. ↑ Laghate, Gaurav (22 January 2019). "Reliance Industries gets CCI nod to acquire Hathway, DEN". The Economic Times. Retrieved 7 April 2019.
  10. ↑ "Reliance Jio acquires another 12% of Den Networks". Indian Television Dot Com. 9 March 2019. Retrieved 7 April 2019.
  11. ↑ "Reliance increases shareholding in DEN, Hathway, GTPL through open offer". TelevisionPost. 11 March 2019. Archived from the original on 7 April 2019. Retrieved 7 April 2019.
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