NDTV Networks PLC, an Indian news and infotainment broadcaster, has sold a 26% ownership stake to NBC Universal for $150 million. NDTV had raised around $20 million late last year from Velocity Interactive Group.
NDTV group and NBC Universal have successfully concluded their strategic partnership initiative for the NDTV Networks business.
By a subscription of shares for US $150 million, NBC Universal now has an effective indirect stake of 26% in NDTV Networks PLC.
NBCU has the option in two years to increase their stake, at the then fair market value, in the holding company of Networks PLC to 50% with NDTV group holding an equal 50% stake.
The NDTV – NBCU strategic partnership in the Networks businesses is a coming together of two leading professional media organisations with similar ethics and goals and promises to be a major force in the media scene in India
NDTV Ltd, founded in 1988, is India's largest news and infotainment network. It is home to the country's best and brightest reporters, anchors, camerapersons and producers; 23 offices and studios across the country host India's most modern and sophisticated production, newsgathering and archiving facilities. NDTV has an unmatched track record of successfully launching three news channels in India and two abroad: NDTV 24×7 is a clear leader in the English news segment, NDTV Profit, a 24-hour business plus channel, is India's number one business news channel, and NDTV India is amongst the country's leading Hindi news channels. It is credited with pioneering several broadcasting and programming initiatives in Indian television and has expanded into one of the nation's biggest broadcasting houses by growing beyond news broadcasting and venturing into non news verticals. For more information visit www.ndtv.com.
About NBC Universal:
NBC Universal is one of the world's leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. Formed in May 2004 through the combining of NBC and Vivendi Universal Entertainment, NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks. NBC Universal is 80% owned by General Electric and 20% owned by Vivendi.