According to some reports, the Network18 Group led by Raghav Bahl is expected to announce a major deal as part of its efforts to reorganize its debts and fund a proposed merger with Hyderabad-based Eenadu TV.

Some believe that Mukesh Ambani, the head of one of India's biggest enterprises, is already in talks with the company to pick up a stake in the company. The shares of Network18 Group firms; the Network18 Media and Investments (NMIL) and TV18 Broadcast rose 17% each just before the company's board meetings today.

The company board is exp3ected to review growth plans of the companies and discuss ways to raise further resources. NMIL's total debt was recorded at Rs 1,430 crore as of September 2011. Eenadu is valued between Rs
2,500 crore and Rs 3,000 crore and owns dozen regional channels and a news channel. NMIL and TV18 Broadcast have a combined market capitalization of Rs 1,600 crore.

The group owns Viacom18, which runs popular TV channels like COLORS, MTV, Nickelodeon and Vh1 as well as a processing facility called, Studio18. The group also runs an Internet and mobile division called Web18 Software Services Ltd that operates Moneycontrol. com and e-commerce site HomeShop18. com.

The vast group also has presence in news segment on the TV and runs channels including, CNBC TV18, CNBC AWAAZ, CNN-IBN, IBN 7 and IBN-Lokmat.