1. Reliance ADAG In Talks To Buy SeventyMM?

    When online DVD rental company SeventyMM bought out competing DVD rental company, I wondered if it was too soon for consolidation in the business. Now, Mint reports that Reliance ADAG is in talks to buy out SeventyMM. The company has denied that they're in talks, but Reliance ADAG execs have told Mint that negotiations are at an advanced stage. SeventyMM currently caters to around 25000 households offering around 15,000 titles on rent in six cities - Chandigarh, Bangalore, Chennai, Hyderabad, Delhi and Mumbai. SeventyMM had received substantially larger funds - $2 million from Draper Fisher Jurvetson, and $7 million subsequently ...
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