Mumbai: Media firm Network 18 on Monday said it has acquired the investment advisory business of its group company Capital18 Media Advisors, a venture capital and private equity firm.
However, the company did not disclose any financial details in this regard.
“The company has acquired the Investment Advisory business of Capital18 Media Advisors... along with the related contracts and employees,” Network 18 Media & Investments said in a filing to the Bombay Stock Exchange.
The acquisition would be effective from 1 January 2009, it further added.
Network18 is one of India’s leading media conglomerates and operates business news television channels CNBC-TV18 and CNBC Awaaz. It also runs internet portal Web18 and a financial information and news terminals -- Newswire18.
Shares of Network 18 Media & Investments were trading at Rs74.20, down 1.13% in the afternoon trade on the BSE.