Airtel in talks to acquire Gaana

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Editor's note: For a few weeks now, Bharti Airtel has been in talks to acquire Gaana, India’s oldest and largest music streaming service, according to three people aware of the development. The talks are at an advanced stage and both companies are now negotiating the final valuation of the deal, according to one of the three people.  Gaana, more than a decade old, is owned by Times Internet, the digital business of Bennett Coleman & Co. Ltd, better known as the Times Group, one of India’s largest media conglomerates. Gaana, though leads the sector, competes with the likes of Reliance-owned JioSaavn, global giant Spotify, Amazon’s Prime Music as well as Airtel’s own music streaming service Wynk Music.  According to one of the three people quoted above, the negotiation for the deal is happening at the very top at Airtel, from the office of CEO Gopal Vittal himself. Vittal was also spearheading the launch and expansion of Wynk seven years ago and has personally been at the forefront of the content ambitions of India’s second largest telecom operator. If the deal goes through, …