Press Trust of India / Mumbai Jul 14, 2009, 13:22 IST
Media firm IBN 18 Broadcast today said it has acquired a further 15.47 per cent in its group entity Viacom 18 Media for Rs 151.14 crore, taking its stake in the entity to 50 per cent.
"IBN 18 Broadcast is now a 50 per cent shareholder in Viacom 18 Media following the acquisition of Television Eighteen India's remaining 15.47 per cent stake in Viacom 18," IBN 18 said in a filing to the Bombay Stock Exchange (BSE).
IBN has paid Rs 151.14 crore for acquiring the 15.47 per cent stake, which includes Rs 29.64 crore as option premium. The company had earlier paid Rs 151.95 crore, it added.
Viacom 18 operates music and entertainment channels like Colors, MTV, Nick and Vh1.
Shares of IBN 18 surged nearly 8 per cent and were trading at Rs 97.50 in the noon trade on the BSE.
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