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The Aditya Birla Group has agreed to acquire a stake of 27.5 per cent in Living Media India said on Friday.
The Chairman, Aditya Birla Group, Mr Kumar Mangalam Birla said: “The media sector is a sunrise sector from an investment point of view. I believe Living Media offers best opportunities for growth and value creation.”
The transaction is subject to approvals.
TV Today Network posted a 22.84 per cent decline in net profit at Rs 7.33 crore (Rs.9.5 crore) for the fourth quarter ended March 31, 2012.
On the BSE, the scrip closed at Rs 54 on Friday, up 0.84 per cent.
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