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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Editor's note: Early this year, video streaming platform MX Player moved out of the Times Internet office in South Mumbai, and shifted its base about 20 km away. The parting of offices was a message. MX Media Co. Ltd—which started out as a Korean video player app, before being sold to Chinese gaming company Zenjoy in 2016 and then being acquired by Times in June last year—will not be a subsidiary of Times Internet for long, but an independent entity. Today, MX Media announced it has closed a $110 million Series A funding round from Chinese internet giant Tencent and Times Internet itself, part of the Times Group, one of India’s largest media conglomerates. But more importantly, while Times will continue to be the largest shareholder in the company, it no longer holds a majority stake; its shareholding comes down to 49% from 58.9% earlier, according to a person aware of the transaction. Times Internet did not disclose the size of its stake. “The company has undergone some restructuring this year,” said this person. “With the Times stake going below 50%, MX …
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
The listed hospitality group sees a drop in revenue and profit in the first quarter. Separately, China steps up engagement with Saudi Arabia and the UAE.
The war in West Asia offers a preview of how India’s next conflict could unfold—fast, multi-domain, drone-saturated and under a nuclear shadow. New Delhi must learn quickly.
