- Videsh Sanchar Nigam Ltd on Wednesday said it is constructing a $250 million (about Rs 988 crore) worth cable system for linking Mumbai directly to Paris, London and Madrid via Egypt.
- 9.9 Mediaworx has acquired Jasubhai Digital Media, the media arm of the Jasubhai group. The company will now be called 9.9 Digital Media. Dr. Pramath Raj Sinha, founder and Managing Director of 9.9 Media has taken over as the Managing Director of 9.9 Digital Media.
- ACK Media, which had bought rights to popular childrens magazines Amar Chitra Katha and Tinkle Magazine with the agenda of monetizing the content across platforms has now acquired a Bangalore based animation studio - Quietmen Studios, which will now be called Katha Studios. Samir Patil, CEO of ACK Media has said
- Venture Fund ComVentures, which has investments in NDTV Networks Plc ($20 Million), the UK based subsidiary of BSE listed NDTV, and Rajat Sharma’s India TV ($11.5 million through Fuse+Media), has merged with the Velocity Investment Group to form Velocity Interactive Group. The Velocity Investment Group was formed just four months ago by former FIM (NYSE: NWS) president Ross Levinsohn and former AOL (NYSE: TWX) chairman Jon Miller. VIG intends to raise another round of funding in 2008, and is looking to invest “as little as $100,000, as much as $30 million.”.
- Venture Fund ComVentures, which has investments in NDTV Networks Plc ($20 Million), the UK based subsidiary of BSE listed NDTV, and Rajat Sharma’s India TV ($11.5 million through Fuse+Media), has merged with the Velocity Investment Group to form Velocity Interactive Group. The Velocity Investment Group was formed just four months ago by former FIM (NYSE: NWS) president Ross Levinsohn and former AOL (NYSE: TWX) chairman Jon Miller. VIG intends to raise another round of funding in 2008, and is looking to invest “as little as $100,000, as much as $30 million.
- US-based venture capital firm Com Ventures will invest $20 million in NDTV Networks Plc, the UK subsidiary of NDTV Ltd. The company had recently received approval from Foreign Investment Promotion Board for an investment of Rs 5.85 billion or $133 million. Com Ventures’ is the first of a series of investments the company plans to rake in. NDTV announced that it has signed definitive agreements with Com Ventures for investing $20 million in the new company.
NDTV Networks has wholly owned subsidiary companies NDTV Imagine and NDTV Lifestyle which would launch Hindi general entertainment and lifestyle channels.
- The latest company to get foreign investment is Hindi news network India TV (promoted by Rajat Sharma). The company received foreign investment of $11.5 million (Rs 50.96 crore) from FUSE+Media, an affiliate of venture fund ComVentures, according to a report in Exchange4Media.com. FUSE+Media will get 19.17 per cent for the investment. The CEO and MD of Fuse+Media is Keyur Patel, who is also a partner at ComVentures.
