Cyber Media (India) has received an approval for the sale of property, Cyber House located at Plot No. B-35, Sector-32, Gurugram-122001 to Cyber Media Research & Services, subsidiary of the Company for a total sale consideration of Rs 19 crore, subject to approval of Shareholders of the Company and Haryana Shehri Vikas Pradhikaran (erstwhile Haryana Urban Development Authority). Rs 7.60 crore has been received as advance against the total sale consideration of Rs 19 crore. The Board of Directors of the Company, at its meeting held on May 30, 2022, has approved the same.
Cyber Media was incorporated in 1982, is the largest specialty media house in South Asia and amongst India's top five magazine publishers.
