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May 27, 2008
UTV New Media acquires 76% stake in IT Nation
UTV New Media, the digital media arm of UTV Software Communications, has acquired a controlling stake of 76% for a consideration of Rs 15 crores in IT Nation, online technology company.UTV New Media wants to invest around Rs. 120 crores over the next two years in a combination of the Internet space with a portfolio of 10 portals, in the digital music space, in the online technology space with IT Nation and in the online business space with UTVi.com the business website.
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