TV18 Acquires Business News Agency CRISIL Market Wire

Here is another acquisition by fast growing media group Television Eighteen. The Delhi-based TV network has acquired 100 per cent stake in CRISIL MarketWire (CMW) for an undisclosed amount. CMW is currently owned by CRISIL. CMW came to the fold of the credit rating agency when it acquired the Indian assets of former Bridge News. Under the terms of the asset purchase agreement, the TV18 group will take over all the assets and liabilities and staff of CMW from CRISIL with effect from January 1, 2007. CMW sells news via exclusive terminals – like Reuters and Bloomberg.
The company will be re-christened NewsWire18 Pvt Ltd. [Via Myiris.com]
Recently, Zee Telefilms had acquired majority stake in United News of India, an ailing news agency owned by a group of media companies. TV18’s internet holding company Web18 had recently acquired three internet assets like Cricketnext.com, CompareIndia.com and Urban Eye.

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