Another rumor floating around which has been been squashed a while ago.
Network 18, through its Capital 18 arm has bought stake in one of India’s most creative agencies Webchutney. The stake though substantial, is in a minority. The funding will be primarily used for expansion – infrastructures, people , Social Media and Rich Interactive applications.
The majority stake i hope will help Webchutney retain full freedom and independence in its operations , creativity and planning , for which it is known. Hopefully this extra funding will see them really shoot ,aggressively, further into the industry.
Read chutney’s own blog post on this here.