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International Bharti Group to pick up 10% stake in TV Today

Bharti Group to pick up 10% stake in TV Today

Author | NULL | Monday, Jan 01,1900 8:29 AM

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Bharti Group to pick up 10% stake in TV Today

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.

Tags: e4m

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