D B Corp will be acquiring remaining shares of its two subsidiaries, I Media Corporation (IMCL) and Synergy Media Entertainment (SMEL) from other existing shareholders so as to make them wholly-owned subsidiaries of the company. Based on the valuation exercise performed by the company it will be paying Rs 35.60 crore for acquiring 45% stake in IMCL and Rs 2.37 crore for acquiring 43.10% stake in SMEL.
DB Corp is the only media conglomerate that enjoys a leadership position in multiple states, in multiple languages and is a dominant player in its all major markets. The company’s other business interests also span the radio segment through the brand - MY FM - radio station with presence in 7 states and 17 cities and a strong online presence in internet portals.
