Aditya Birla Group, through its private investment company, has acquired a 27.5% stake in Aroon Purie-controlled Living Media India Ltd., the promoters of India Today magazine and TV Today Network. Ambit Corp was the advisor to the deal. Media reports place the deal value at Rs. 600-700 crore. Living Media acts as a holding company and owns a 57.46% stake in publicly listed TV Today Network, which runs the Aaj Tak and Headlines Today news channels.
Living Media will use the cash from the deal to expand its presence in media including launching its New Delhi-based tabloid, Mail Today, in other metros, including Mumbai.
Recently, in a landmark judgment by the Supreme Court in the case of Bank of Baroda v. Kotak Mahindra Bank, the Apex Court has determined over the limitation period applicable for executing a forei More
Helplinelaw can set up your session with quality and experienced lawyers to discuss and resolve your legal matters. You can avail consultation in form of sending questions, phone call or webchat discussion More