Big business is eyeing the media space once again. Just four months after Reliance Industries invested in the Network 18 group in a multi-layered deal, leading business houses, including the Aditya Birla Group, are looking at acquiring 26 per cent stake in the Aroon Purie-controlled Living Media India.The other names doing the rounds for picking a stake in Living Media are Mahindra & Mahindra and the Kolkata-based RP-Sanjiv Goenka group. However, Aditya Birla Group seems to be the front runner for the deal.
Purie’s publishing empire, which is controlled through Living Media, also includes Business Today and a clutch of licensed magazines such as Cosmopolitan, Good Housekeeping, Men’s Health, Harper’s Bazaar, Travel Plus and Harvard Business Review, among others. Living Media acts as a holding company and owns 57.1 per cent in TV Today Network, the listed company that owns the group’s broadcasting assets, besides publishing a host of magazines that include the flagship India Today. TV Today has four news channels — Headlines Today, Aaj Tak, Tez and Delhi Aaj Tak — and radio stations under the brand Oye FM. Living Media also has a joint venture with German media house, Axel Springer AG, for an auto magazine and an online shopping portal — Bag it today. It also has an alliance with the UK-based Daily Mail for the daily tabloid Mail Today. It straddles print media, television and the radio business apart from running the country’s most modern printing press, Thomson Press, in the outskirts of Delhi.
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- Network18 to acquire ETV, become debt-free (ibnlive.in.com)