Living Media India holds 66.78% of the total equity shares of Mail Today through its wholly owned subsidiary, India Today Online (ITOPL) and for the purpose of the above acquisition, shall transfer all equity shares of ITOPL to the Company by way of a gift. AN (Mauritius), the other shareholder holding 25.21% of the equity shares of Mail Today, shall transfer all the equity shares held by it in Mail Today by way of gift, which shall result in Mail Today becoming a wholly owned subsidiary of the Company.

The Board also approved the acquisition of 100% of the issued and paid up capital of Vibgyor Broadcasting for the purpose of reorganising its radion business by transferring its radio business through slump sale into the aforesaid entity.