Siti Cable Network Limited (BSE:532795) agreed to acquire 51% stake in Krishna Teja Digital Entertainment Private Limited for INR 0.26 million on January 5, 2016. The consideration will be paid in cash or combination of cash and kind. In related deals, Siti Cable Network agreed to acquire 51% equity stake in Sai Star Digital Media Private Limited, 76% equity stake in SCOD 18 Networking Private Limited, 100% equity stake in Variety Entertainment Private Limited, 9% stake in Siti Faction Digital Private Limited, 51% stake in Bargachh Digital Communication Network Private Limited and 49% equity stake in Siti Jony Digital Cable Network Private Limited.

Siti's board has approved the transaction on January 5, 2016. The transaction is expected to close on or before March, 2016.