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NDTV Board Agrees To Sell Ecommerce Portal Fifth Gear To AutoByte

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25.09.2017

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Media house NDTV has confirmed that its shareholders have approved the sale of its automobile ecommerce firm Fifth Gear Ventures Limited to Autobyte Private Limited.

The reports of the sale came to light in July 2017. At that time, medianama reported that after Autobytes’ “infusion of funds” in Fifth Gear Ventures Ltd, the shareholding of the NDTV group in the business will be diluted, and the control and management of the venture will be transferred to Autobyte. Also with this move, Fifth Gear will also cease to be a subsidiary of NDTV.

The........

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