Companies

VCCircle in talks to divest stake

Rajesh Kurup Mumbai | Updated on January 24, 2018 Published on February 08, 2015

Rupert Murdoch’s News Corp could be in the race

VCCircle, a business news website covering developments in the mergers and acquisition space, has put itself on the block.

The promoters of the website are in talks with multiple strategic investors, including a global media major, to raise funds in exchange for a stake. The talks are at an advanced stage, and if successful, a deal is expected to be inked soon.

Murdoch interested?

 At least three sources said that New York-headquartered News Corporation is one of the companies involved in the talks. The names of other suitors could not be immediately confirmed.

 “The company is looking at offloading a majority stake, if not selling the entire stake,” one of the sources said, declining to be identified.

VCCircle founder and Chief Executive Officer Sahad PV also declined to comment, while an e-mail sent to News Corporation did not elicit any response.

Deal tracker

VCCircle, a business information website, was set up in 2007. It covers developments in the private equity, venture capital, mergers and acquisitions, investment banking and capital markets space. In the past, it had received investments from angel and individual investors.

 With offices in New Delhi and Mumbai, VCCircle employs 100 personnel. 

The business news website, along with financial data platform VCCEdge.com and tech startup-focused news portal Techcircle.in is owned by  New Delhi-headquartered Mosaic Media Ventures. Of late, the Indian media space has been hotting up. In May 2014,  Reliance Industries acquired majority control in Network18 Media & Investments and TV18 Broadcast (TV18) in a deal valued at around ₹4,000 crore.

 In 2013, the Kolkata-headquartered ABP Group sold its fortnightly business magazine Businessworld to Anurag Batra of Exchange4media, investment banker Vikram Jhunjhunwala and a clutch of other investors.

Published on February 08, 2015
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