ISSN (Online) - 2349-8846 What Future for the Media in India? Reliance Takeover of Network18 PARANJOY GUHA THAKURTA Vol. 49, Issue No. 24, 14 Jun, 2014 Paranjoy Guha Thakurta (
[email protected] ) is an independent journalist and educator. India’s largest company now controls India’s largest media conglomerate. India’s media could therefore well be perceived to henceforth be a little less independent or, for that matter, trustworthy. The decision by Reliance Industries Limited (RIL) to wrest full managerial and editorial control over the Network18 group was not unexpected given the fact that two and half years ago, RIL, the country's biggest privately-owned company, had invested heavily in Network18, India's biggest media organisation after its virtual amalgamation with the Eenadu group. The country's richest man, Mukesh D Ambani, is now, formally, also India's biggest media baron. However, what took some by surprise was the speed with which the core team led by the Network18 group's principal promoter Raghav Bahl quit – rather, was ousted – within a fortnight of the declaration of the results of the general elections on 16 May. Rationale The Reliance group seeks to explain its decision to take over the Network18 group as a move driven by synergy since it intends becoming a major participant in the fourth- generation (4G) high-speed data transfer business, at a time when technological convergence has blurred the distinction between telecommunications and broadcasting. At the same time, what Reliance has achieved by becoming the biggest player in India's mass media industry is that it has enhanced its ability to influence public opinion through the media, thereby also strengthening its hold over the working of the country's political economy.