New Delhi, May 26:

UTV has forayed into the digital Internet media space by acquiring a 76 per cent stake in IT Nation, an online technology company for Rs 15 crore.

Under its digital arm, the company plans to invest Rs 120 crore over the next two years in both organic and inorganic growth, said Mr T.N. Prabhu, CEO , UTV New Media.

The investment will be made in a portfolio of about 10 portals, including UTVi.com, the online business Web site of its new business channel. “According to figures, over 50 per cent of the population is less than 28 years of age. With the kind of disposable income and propensity of today’s youth to spend,digital music, movies or entertainment and gadgets are high growth areas that we have identified,” said Mr Prabhu.

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