UTV Software is likely to sell its stake in online gaming company Indiagames for around 220-240 crore. The deal may close as early as 60-90 days. Diversified media company, UTV holds around 56% in the gaming company which is set to be bought by either a US-based gaming company or a venture capital fund.
Other investors in Indiagames include promoter Vishal Gondal, US information technology major Cisco, and software major Adobe. UTV makes movies, runs entertainment television channels, console games, and is now also focusing on web and interactive media such as music and mobile games with the launch of third generation, or 3G, mobile services that make high speed internet accessible to the masses.
The company had bought majority stake in Indiagames in 2007 for around Rs 43 crore. At the time it expected Indiagames to form an important part of UTV’s content plan to build and popularize games, possibly around its own movies and other intellectual property. crackcrack
| Company Name | CMP |
|---|---|
| Zee Entertainment | 82.02 |
| Sun TV Network | 597.30 |
| GTPL Hathway | 69.91 |
| Network 18 Media Inv | 33.26 |
| TV Today Network | 110.30 |
| View more.. | |
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