Bennett Coleman to acquire 14.93 per cent stake in Media Video

MUMBAI: Indian print media titan The Times of India Group, which also has interests in broadcasting and FM radio, is acquiring 14.93 per cent stake in Media Video Ltd.
 
The board of Media Video today approved the preferential issue of 2.69 million equity shares aggregating to 14.93 per cent to BCCL at a price of Rs 26 per share.

This, however, is subject to the approval of the shareholders by way of a special resolution in the company’s Extra-Ordinary General Meeting (EGM), scheduled to be held on 29 July.
 

Media Video will utilise the funds to expand its consumer electronics business.