UTV Bolsters Digital Media Operations

MUMBAI, May 27: UTV New
Media, the digital-media arm of India’s UTV Software Communications, has
acquired a 76-percent stake in the online technology company IT Nation for Rs.
15 crores ($3.5 million).

IT Nation focuses on
technology markets covering enterprises, technology resellers and general
consumers. The move is part of UTV’s overall new-media strategy, which includes
a Rs. 120 crores ($28 million) investment over the next two years.

“Our objective is to create a digital entity
covering the domains of business, finance, entertainment, TV, films, music,
gadgets and technology,” said TN Prabhu, the CEO of UTV New Media. “This we
plan to do in a device-agnostic manner. That is wherever the user has a device
to access, we will have content to deliver.”

—By Mansha Daswani