Updated: UTV Acquires Majority Stake In IT Nation

15 Comments

Update: A UTV spokesperson told us that the company has no comment on this story – neither a confirmation nor a denial. Our sources have
since confirmed that the deal is done, and that UTV has acquired a majority stake in IT Nation, and not 100 percent.
More as we have it.

(Original story) Media conglomerate UTV has acquired IT Nation which owns technology focused portals including TechTree, CXO Today, Channel Times, Enterprise.in and 360 Magazine, as per WATblog. Ronnie Screwvala-promoted UTV runs the youth focused channel Bindass and has controlling stakes in gaming companies Indiagames and Ignition Entertainment. We’ve contacted UTV for a confirmation of this, and if nothing else, there should be a notification for the stock exchanges if and once the deal is done. Our sources say that IT Nation probably isn’t very big on page views, but doing well in terms of advertising revenues…but nothing yet as a confirmation, or on the details of the deal.

Apart from TechTree, which does consumer tech – gadget reviews and technology news, I don’t see how IT Nation is a fit for UTVs existing or announced ventures – mostly centered around youth, movies and entertainment. So far they’ve announced plans for a Hindi movie channel, a world cinema channel, and four channels under the youth brand Bindass. No details on three other channels planned – perhaps IT Nation is a strategic fit for one of them. UTV, in which Disney (NYSE: DIS) has a 14.85 percent stake (and there are rumours of that being increased), is looking to raise Rs. 450 crores to fund its broadcast ventures. Others broadly in the same space as IT Nation include the recently acquired 9.9 Digital Media, Cybermedia, and Web18’s Tech2 and BizTech2 combine.

15 Comments

Raj

yes, that means even if u give breaking news give false news. Nikhil, if u have attributed this story to some source and have no additional content , I dnt see this as your story at all. Simply by picking other people's story and attributing them and thn putting it as yours is a little better than plagurism.So, then Content Sutra works like a search engine picking news and giving bylines for somebdy else's work

digitalman

This seems like a similar story where I read somewhere that hungama mobile has acquired stake in raaga.com from its dubai subsidiary. Don't know about the money or the % of stake but seems interesting as it will give indemnity to raaga.com from T series for sure. Am pretty sure that the Yash Raj Films guys will go pretty hard at it. Neeraj might use his Aditya Chopra connection, but do not think the tough guys at YRF will give it away so easily.
I seriously respect the way contentsutra has been quick in reporting news as well views from the affected parties as well. I do not think they should wait till the news gets official confirmation. If anybody needs that kind of guarantee,do not visit any websites… be comfortable reading news papers.

Suman

Hi…

Can u plz do favour..by let me know the name of that reliable source…frm wh u got this news..

Suman

Jatin

even strange word sounds strange after the comments from Nikhil……

flip

All 6 posters before Nikhil look like they are from one group…. pouncing on him with accusations of poor journalism. That's pretty strange!!

Nikhil

Rakhi and Vijay: our posts have both news and opinion. If anyone else has a view, or disagrees with us, there's the comment box.

Shikha and the rest: we aggregate source based stories attributed to their original source, and then seek a confirmation…you've probably forgotten Zapak and Sony Online Entertainment from ET. We also contacted UTV, and have updated with a response. I asked for a denial so that they may put an end to speculation, but none was forthcoming.

In any case, our sources tell us to wait a couple of weeks for something on this. Until then, this story stays as it is – a story reported elsewhere, and pending confirmation.

Rakhi

The report should be objective and neutral.The reporter has to report the news and not tell his own views because everyone will have a view of their own. This is an absolute mockery.

Shikha

The name of your wbsite should be rumour sutra, instead of content sutra….

ABC

Boss, from where did you get these unreliable information. It is really pathetic instead of investigating the complete report, you are making fun of the journalistic approach. Who made you editor boss, you are not even worth of a reporter??????

Max Muller

By the way is this a news report or a personal blog? Why did the reporter has forgotten to contact IT Nation for the confirmation about the deal and relied on his own source?

The reporter needs to learn the basics of journalism before filling such rumor story under his name.

Pragya

The reporter must have clear knowledge of the facts. The site,'"enterpriser.in" has been misspelt as "enterprise.in".Moreover the sources are not correct and has been attributed to a blog.Moreover, the dates of the source i.e. "blog" have variations.

This is highly unproffesional and not journalism.

Vijay Vedala

The reporter should refrain from making comments such as these. He should mind his own business and let UTV bother take care of itself.

Comments are closed.