TV18 to buy ETV’s television business

Tue Jan 3, 2012 2:34pm IST

(Reuters) – TV18 Broadcast Ltd (TVEB.NS) said on Tuesday it would pay up to 21 billion rupees to buy the television business of regional broadcaster ETV.

TV18 will get management control of ETV’s news and entertainment channels other than the regional Telugu language channels, it said, adding TV18′s board has approved raising up to 27 billion rupees via rights issue of shares.

(Reporting by Kaustubh Kulkarni in MUMBAI)

Article source: http://feeds.reuters.com/~r/reuters/INtopNews/~3/KsMKApai2C8/tv18-broadcast-etv-idINDEE80206M20120103

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