From out sister site ContentSutra, this significant news: One of the biggest TV/media firms in India, the TV18 group (it runs CNBC’s local version there) is spinning off its internet division as a separate company. The move is a consequence of the internet division attaining significant revenue growth. The division – which has portals like Moneycontrol.com and Commoditiescontrol.com, clocked revenues of Rs 6.03 crore ($1.34 million) for FY05-06, up from Rs 1.04 crore ($230,000) in FY04-05.
The group had earlier announced its foray into multiple Internet verticals (it acquired 50 per cent in the Indian operations of Jobstreet.com) and recently launched home shopping network with the help of SAIF Partners.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post