Rupert Murdoch's News Corp has acquired a 15% stake in Indian technology portal ITSpace.com, managed by network computing company Microland, for an undisclosed price
"We found the web-site a potentially valuable and viable business proposition for the information technology community. It is managed by the Microland Group and has strong revenue streams. We found it a good bet," said Star TV's Indian CEO Peter Mukerjea.
Murdoch stated his intention to take equity positions in Indian internet ventures when he visited the country in March (Screendaily, March 15). News Corp-owned Star TV has earmarked $100m to invest in Indian web-sites and has already bought a stake in auction site Baazee.com. News Corp previously picked up a 33% stake in Microland's horizontal portal indya.com.