TV18 To Spin Off Internet Division; Online Revenues Grow 500% To Rs 6 Crore

DNA: Indian media group TV18 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.
Haresh Chawla, CEO of TV18 Group, said, -

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