Mumbai, June 6: Satyam Infoway has offered to buy out Romola Butalia's 35per cent revenue sharing arrangement for India Travelog with IndiaWorldCommunications Pvt Ltd. India Travelog is one of IndiaWorld's 13 websites.
It is jointly presented by IndiaWorld and Romola Butalia, the editor ofIndia Travelog. As per the existing MoU with IndiaWorld, Butalia has a 35per cent revenues while IndiaWorld has the remaining 65 per cent share.According to a release from Butalia, in response to Satyam's offer, she hasmade a counter offer for the site, which has a committed readership withhigh interactivity. The site has been hosting banner advertisements fromIntel, Prudential ICICI, Amul, Namaste, among others.
The release further said that the offer from Satyam will enable SatyamInfoway to buy out the remaining 35 per cent revenue share of IndiaTravelog. In view of Butalia's counter offer for the site, negotiation forthe deal is expected to be completed within a week. The amount at which thesite is finally bought should be an indicator for the industry on howdotcoms are valued now. and after the crash in the Nasdaq and the Indianstock markets. It would further give an insight into Satyam's own valuationof the IndiaWorld sites, seven months after the much-hyped deal withIndiaWorld, the release said.
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