Republic Media Network on Wednesday countered the "misleading reports" by making public the shareholding of its promoter.In a statement, the Republic Media Network said that it has "taken note of a series of misleading reports in Indian and international media, making false and mala fide claims about the exact ownership of the consolidated network. And in this context, has decided to clarify the details of its promoter shareholding.""At the time of the launch of the English Channel Republic TV, Arnab Goswami though his personal investment and family structures entirely controlled by him, had around 84 per cent of shareholder equity through his promoter entity in ARG Outlier Media Pvt Ltd," the statement reads.It further reads: "After the initial capital raise to fund the launch of the English Channel, Mr Arnab Goswami raised further capital for expansion through a small equity raise, in February 2019, and since then continues to hold over 82 per cent of ARG Outlier Media Pvt Ltd. ...
