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ACK Media, an entertainment and education company has acquired a controlling stake in Amar Chitra Katha and the Tinkle family of magazines. Sources put the deal at over Rs 10 crore and the stake was well over 90 per cent. Anant Pai will continue to be Editor Emeritus and Chief Story Teller for ACK Media, while Samir Patil would take over as chief executive officer. Samir Patil, said, “If ACK Media can reach out to a fraction of India’s 300 million+ youngsters with content that stimulates the imagination and encourages critical thinking, in ways that complement the formal educational system and contemporary family upbringing, I would consider it a great success.” ACK Media is planning to tap licensing opportunities that lay in the popular characters and content of the both the popular magazines for different media like television and mobile phones. […]
Firefly eVentures Ltd, the wholly owned Internet subsidiary of HT Media Ltd, has acquired social networking site Desimartini.com in an attempt to enter one of the fastest growing segments in the Indian Internet space. HT Media said the transaction was for less than $10 million. “Localisation is the norm all around and as broadband penetration improves, we can see phenomenal opportunity and growth in the Internet in India. This acquisition in the social networking space is the first step towards expanding our Internet base. We are exploring other new online businesses such as gaming, e-commerce and classifieds,” said Amit Garg, Business head – Internet, HT Media. Garg said HT Media plans to launch online portals in jobs, matrimonials, real estate and auto verticals – areas where the classifieds pages of newspapers currently dominate and where the Hindustan Times has a strong presence in some markets. Desimartini.com, launched by Pahwa Knowledge Based Services late last year, is funded by the Pahwa group of companies and has a membership base of 250,000. It attracts around 2.5 million page views a month. Desimartini.com competes with homegrown players such as the Minglebox.com, Ibibo.com, Indyarocks.com, and Bigadda.com. […]
Capital18, the venture capital and private equity arm of the Network18 Group, has picked up an undisclosed stake in interactive marketing and technology services agency Webchutney. Sidharth Rao, CEO, Webchutney, “We at Webchutney will look for growth through capital investment. The investment by Capital18 will be used to make for rich interactive applications, for which we are looking at key partnerships and hiring and developing our own creative studio in future.” Sarbvir Singh, Managing director, Capital18, says, “The digital advertising agency business is rapidly scaling up and the future for digital advertising is bright in India. We feel that Webchutney is the right kind of agency to partner with and will drive the business together.” Webchutney was founded in 1999 and has about 100 employees. The agency serves clients such as Airtel, Microsoft, Hewlett-Packard, HSBC, MakeMyTrip, Zapak and Bookmyshow.com. The company is looking at expanding the operations to Chennai and Hyderabad.(Television Point) […]
George Soros' Quantum Fund has picked up an undisclosed stake in India-based Future Capital Holdings (FCH), the financial services arm of retail czar Kishore Biyani's Future Group, The Economic Times reported without naming sources. Och-Ziff Capital, one (NYSE:COF) of the world's largest hedge funds, has sold part of its 10 pct stake in FCH to Quantum, the report quoted the unnamed sources as saying. It added the deal is believed to value FCH, which is expected to launch its IPO within a few weeks, at 1 bln usd. FCH chief executive Sameer Sain declined to comment, the paper said. According to the report, the move is part of the investment strategy of Soros to pick up stakes in the booming Indian real estate, retail and financial services sectors. Quantum Investment Fund currently has a stake in India's Reliance Capital.(CNN Money) […]
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