iTV Network acquires majority stake in Radio Sports Flashes
Sports Flashes, India’s first online Sports radio channel dedicated to broadcasting sports content including live updates and 24x7 chat commentaries, has been taken over by iTV network. Pro Sportify Holding, a subsidiary of iTV Network, entered into an all-stock deal to become the majority stake holder in Radio Business of Sports Flashes.
With this, iTV Network through Pro Sportify Holding is acquiring a majority stake in Radio Business of Sports Flashes and consolidating its presence in the fast-growing Sports Media segment in India.
Speaking on the acquisition, Kartikeya Sharma, Founder, iTV Network, said, “Sports Flashes comes as a strategic move in addition to our investments and diversified presence in Media & Sports. Sports Flashes will reinforce our position as a pioneer in the Indian Sports ecosystem.”
Raman Raheja, Founder, Sports Flashes, added here, “We are happy to be a part of the iTV Network. What started as a unique sports content platform, Sports Flashes is the leader in online sports radio space with the best content available for sports enthusiasts. With 50 millions sports buffs already following our Sports channel, we will now expand our reach in vernacular space through the iTV network. Using the Video production strengths of iTV, we will now present Radio with a Video screen.”