The Bharti Group is picking up close to 10 per cent stake in TV Today Network, which owns the 24-hour free-to-air Hindi news channel, Aaj Tak. The final paper work is under progress.
With this almost 10 per cent dilution, TV Today Network will have completed a nearly 20-per cent equity dilution. Aaj Tak had earlier availed funding from ICICI Venture, which currently holds 10 per cent in Aaj Tak. The company is looking for a private placement of 20-per cent.
Aaj Tak has stalled talks with Sony Entertainment Television India for distributing the channel and finds potential to augment advertising revenue as a free-to-air channel at this stage.
Aaj Tak is a 24-hour Hindi news channel promoted by the Living Media Group.