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Our Bureau

New Delhi, Sept. 24 IBN18 Broadcast plans to raise Rs 510 crore through a rights issue. The board of the media company, which owns the news channels IBN 7 and CNN IBN, approved the resolution, according to a statement to the stock exchange.

The funds will be used in news operations — for the entertainment joint venture Viacom-18, which runs the entertainment channel Colors — as well as in part-repayment of debts between Rs 220 crore and Rs 250 crore.

In June, the company raised Rs 62.5 crore selling treasury shares held in IBN 18 Trust to institutional investors at Rs 125 a share.

More Stories on : Rights Issue | Radio/TV

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