As per a leading daily, Reliance Industries is consolidating its media and distribution properties under a single entity, making Network18 the vanguard of the conglomerate’s advance in the media and entertainment business.

''For every 100 shares they own, shareholders of TV18 Broadcast will receive 92 shares of Network18. Hathway shareholders will get 78 shares of Network18 and Den shareholders 191 shares of Network18'', said the company.

The Reliance Group's holding in Network18 will reduce from 75 percent to 64 percent once the merger is completed.

Shares of the company declined Rs 8.95, or 0.6%, to settle at Rs 1,495.25. The total volume of shares traded was 485,609 at the BSE (Thursday).