Aditya Birla Group to invest in Living Media India - 18 May 2012

Mumbai: The Aditya Birla Group, today announced that it has agreed to make a financial investment of 27.5 per cent, in Living Media India Limited (India Today Group), through its private investment company.

Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, "The media sector is a sunrise sector from an investment point of view. I believe that Living Media India offers one of the best opportunities for growth and value creation."

Mr. Aroon Purie, Chairman of the India Today Group, said, "I am delighted to partner with the Aditya Birla Group to aggressively address the current and future potential of the Indian media business, which is at a tipping point. The Aditya Birla Group with its strong leadership, global footprint, diversified business interests and its shared values of integrity, commitment and social responsibility make it a perfect fit with the India Today Group."

The transaction is subject to customary approvals.