Global Broadcast News (GBN), the Network 18 group company which runs CNN IBN, is all set to buy out Jagran TV's stake in the Hindi news channel IBN 7. | |
| Jagran Prakashan owns roughly 41 per cent stake in the holding company, BK Fincap. The remaining is held by GBN, which picked up a 49 per cent stake in IBN 7 (formerly Channel 7) almost two years ago. The size of the deal, to be announced shortly, is not known. |
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| However, IBN 7 is valued at Rs 200 crore as GBN yesterday announced its plans to buy the Mauritius-based PE fund's 10.01 per cent stake in Jagran TV for Rs 20 crore. |
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| Haresh Chawla, CEO, Network 18, refused to comment on the deal. Jagran Prakashan CEO Sanjay Gupta, however, said that the talks with GBN were in a preliminary stage. |
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| "We are not hands-on managers in the news channels business in any case. We are just investors in that sense and could cash out whenever we wish to," he said. |
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