 The board of RI approved funding of up to ₹40 billion (40 billion) to Independent Media Trust (IMT), of which RI is the sole beneficiary, for acquisition of control in Network 18 and its subsidiaries.On 8 July 2014, RI stated that it has completed the Network18 take-over.In 2015 Network 18 under ownership of Reliance Industries took over ETV Network for about 20.53 billion deal.