IndiaPE.com 21 May 2012
The big boys of India Inc are foraying into the media business . After RIL chief Ambani invested in Network 18 group , the billionaire chairman of the Aditya Birla Group, Kumar Mangalam Birla, is buying a 27.5% stake in Living Media Group, the publisher of India Today weekly magazine.
In a statement, which did not give details on the size of the deal, the AV Birla Group, which has interests ranging from metals to telecoms, said Living Media offers “one of the best opportunities for growth and value creation”
A private investment company of the group will make the financial investment in the media company.
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