Media and entertainment company Vision Corporation today said it has received the approval from its board for a tie-up with Germany-based Gate Deutschland GmbH for forming a joint venture for its channel business.
Gate Deutschland would be a strategic partner for the JV for the company's channel business especially entertainment channel for which it has already received the license from Information & Broadcasting Ministry, Vision Corporation said in filing to Bombay Stock Exchange (BSE).
"The profit will be shared in the ratio of 50:50," it added.
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