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UTV acquires 76% stake in IT Nation for Rs 15 crore

UTV New Media, the digital media arm of UTV Software Communications, has acquired 76 per cent stake in IT Nation for Rs 15 crore. ITNation owns a number of websites including Techtree.com, Cxotoday.com, Enterpriser.in, ChannelTimes.com and 360magazine.com.

UTV New Media, the digital media arm of UTV Software Communications, has acquired 76 per cent stake in IT Nation for Rs 15 crore. ITNation owns a number of websites including Techtree.com, Cxotoday.com, Enterpriser.in, ChannelTimes.com and 360magazine.com.

T N Prabhu, CEO of UTV New Media, has said the company plans to invest around Rs 120 crore over the next two years into the internet space with a portfolio of 10 portals. According to Prabhu, the objective of UTV New Media is to create a digital entity covering the domains of business, finance and entertainment. [Source: Sify]

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