Reuters To Sell Its Stake In Times Global Broadcasting To BCCL
By Nikhil Pahwa - Thu 14 Feb 2008 08:14 PM PST
We’ve written earlier about the Reuters (NSDQ: RTRSY) planning to exit Times Global Broadcasting, it’s joint venture with BCCL (Times of India Group), that owns the channel Times Now. Now Exchange4media reports that Reuters is selling its 25.82 percent stake in the venture to BCCL, for which it had paid $19 million. BCCL will thus become the sole owner of Times Global; from what we’ve heard, Reuters is not looking to exit India, and is considering other partnerships. Exchange4media confirms the same, saying that Reuters is in talks with other news houses for a broadcast venture, and one name mentioned is News24.
Posted in: Companies, Reuters, Times Group (BCCL)
