NBCU exits; NDTV to buy-back minority stake
Posted by Adgully Bureau | October 16th, 2009 at 11:49 am
NBC Universal (NBCU) – the company that held the non-news business unit of the NDTV Group – walked away from the alliance with New Delhi Television (NDTV). NDTV has declared that it is going to buy-back the 26 percent stake that NBCU controlled in NDTV Networks through its subsidiary company NDTV Networks BV. The price of the buy-back was, however, not quoted by NDTV.
Posted by Adgully Bureau | October 16th, 2009 at 11:49 am
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It is believed that NDTV has initiated talks with Time Warner and Astro – a Malaysian television network company – to pick up a stake in NDTV’s lifestyle business. NBCU had invested $150 million into the alliance but prefer to walk out of it owing to the direct effect of global economic downturn.
NBCU had control on 26 percent in NDTV Networks Plc that owns NDTV Imagine Ltd, NDTV Lifestyle Ltd, NDTV Convergence, Labs and NGEN Services. NBCU also held 22 percent stake through an indirect arrangement in NDTV Lifestyle Ltd – the company that owns NDTV Good Times.
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