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UB Group to restructure its media business

25-May-2001
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UB Group to restructure its media business

The UB Group plans to restructure its media business with more investments in Asian Age. The promoter of Zee, who has a 15 per cent stake in Asian Age, is expected to increase it increase it over a period of time. As a result, both the promoters UB Group and Zee will have an equal stake in the venture.

At present, UB Group has around 40 per cent stake in Asian Age, 45 per cent are with the promoter of Deccan Chronicle and Asian Age editor MJ Akbar. The UB Group has already sold off its stake in Vijay TV to UTV.

Industry sources say that the UB Group does not plan to increase its interest in media companies though it was keen to maintain its presence in the industry for business reasons. By roping in the promoters of Zee, it has brought in professionals to manage Asian Age.

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