Aditya Birla to buy stake in Living Media
REUTERS - Diversified Aditya Birla Group will buy a 27.5 percent stake in unlisted media group Living Media India Ltd, which publishes the popular India Today magazine, for an undisclosed sum.
Living Media offers "one of the best opportunities for growth and value creation", Aditya Birla Group's chairman billionaire Kumar Mangalam Birla said in a statement on Friday.
A private investment company of the group, which also has interests in cement, telecoms and metals businesses, will make the financial investment in Living Media, the statement said.
(Reporting by Devidutta Tripathy in NEW DELHI; Editing by Aradhana Aravindan)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Religion and Politics
The head of India's most powerful Hindu group vowed to press ahead with a campaign to convert Muslims and Christians to Hinduism, stoking a sensitive debate that has stalled parliament and threatened Prime Minister Narendra Modi's economic reform agenda. Full Article