Strategic investment of up to Rs 30 Crore in K Globes Digital Media
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Pro CLB Global has signed a Strategic Investment and Shareholders Agreement with K Globes Digital Media. PCGL will invest up to Rs 30 Crore by subscribing to fresh equity shares in tranches, allowing it to hold up to 90 percent of KGDMPL and make it a subsidiary. KGDMPL runs TV broadcasting, digital media, financial news and the Kubera Now media network. Funds will be used for media expansion, broadcasting, technology and licence acquisitions. PCGL will get Board control once majority stake is acquired.
New media subsidiary adds TV, digital and Kubera Now exposure, but the investment amount is discretionary and will come in tranches.