The firm picked up 70 per cent of the company from Network18 Media and plans to rename the business within the next three months, according to a filing with the Bombay Stock Exchange.
Network18 sold the stake in a bid to focus on its TV and digital businesses, it said.
Sai Kumar, Group CEO of Network18, said, “In a few short years NewsWire18 has grown into a leader in its space and we take great pride and pleasure in having written this wonderful growth story.
“The growth at NewsWire18 is a reflection of Network18’s business building skills and the value that our network eco-system brings to a business.
“We would like to give Pankaj and his team and Samara Capital our best wishes as they embark on the next phase of their journey.”
Mumbia-based private equity firm Samara is reported to have set a $300m hard cap for its second fund – $50m larger than its 2008-vintage predecessor.
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