How Reliance Jio is consolidating presence in entertainment
The Hathway and Den Networks acquisitions give Reliance Jio access to 24 million cable-connected homes, a demography that Jio GigaFiber wants to tap into
Last week, Reliance Industries Ltd (RIL) said it was acquiring majority stakes in Hathway Cable and Datacom Ltd, and Den Networks for ₹ 5,230 crore. While it seeks to pick up a 51.3% stake in Hathway for ₹ 2,940 crore, in Den it will acquire 66% for ₹ 2,290 crore. The acquisitions mark RIL’s further penetration into cable broadband through Reliance Jio Infocomm Ltd. In July, Reliance Jio had first announced its single service provider Jio GigaFiber, the high-speed fixed line broadband targeting 50 million users across 1,100 towns and cities. The service promised ultra-high definition entertainment on TV, virtual reality, gaming, smart home solutions and e-commerce.