Exchange4media.com: This is the second media deal in the last one week. Last week the TV18 group (the Indian JV partner of CNBC India) picked up 45 per cent in Channel 7, a Hindi channel from Jaagran Group. Now another leading media house, Bennett, Coleman & Company Limited (BCCL), owner of The Times of India Group, is acquiring a 6 per cent stake in Sahara One Media & Entertainment Limited. Bennet will subscribe to 11,00,000 new equity shares at a price of Rs 344 ($7.8) per share aggregating to Rs 37.84 crore ($8.6 million). This values the company at around Rs 629 crore ($143 million).
Shantonu Aditya, CEO, Sahara One Media & Entertainment, said, -