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Updated: Northgate Looks To Sell Bharatstudent; ADAG Denies Acquisition Plans

Corrigendum: It was erroneously mentioned by us that Ziddu is also on sale. According to the filing, while Northgate has received interest related to both Ziddu and Bharatstudent, is it seeking a buyer only for Bharatstudent. The error is regretted. Update: In an emailed response to MediaNama, Reliance Entertainment President Rajesh Sawhney has said that the premise that they're looking to acquire Bharatstudent.com is "Incorrect". We're awaiting a response from Deccan Chronicle and Northgate Technologies. Original Story: Struggling digital company Northgate Technologies, which owns the social networking site Bharatstudent.com, Advertising network Axill and VoIP company Globe7, looking to offload Bharatstudent, according to a filing (zip) with the Bombay Stock Exchange. The company had said that they've been approached by interested parties for acquiring the website. WATblog reports that the Reliance ADAG Group and Deccan Chronicle Holdings (DCHL) are in preliminary talks for acquiring Bharatstudent. No sources have been quoted, and MediaNama is awaiting a response from DCHL. DCHL, which doesn't have much of a social media presense, operates out of Hyderabad, where Bharatstudent is also based. Reliance Entertainment President Rajesh Sawhney could not be reached for comment at the time of filing this report, while BigAdda COO Shivanand Pare declined to comment. Update: Sawhney has said that the premise that they're looking to acquire Bharatstudent is incorrect. ADAG sources told MediaNama that they are regularly approached by companies, being a large media and entertainment group. There had been initial discussions with Bharatstudent, but it is nowhere close to the transacton stage. Readers…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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