Ambani brothers sudden interest in Media
Monday, March 12, 2007You already know about Anil Ambani's media ventures from the past one year. His journey began by acquiring controlling stake in AdLabs. Additionally, Anil Ambani bought Rs 1,000 crore worth of SHARES OF TV BROADCASTERS - 10% IN AAJ TAK[TV Today Network] and 6% stake in CNN-IBN shortly after listing.
Today, Mukesh Ambani announced his plans to invest $300 Million in setting up 8-10 TV channels under the leadership of former Star TV CEO, Peter Mukerjea.
It makes strategic sense for Anil Ambani being in the communications business and will very soon step into Dish TV offering. But why is Mukesh Ambani interested in the Media business is every body's guess and both the brothers no longer care for the Non Compete Agreement they signed ?
Tags: Invest India, Media India , India TV, TV
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