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Scripps Networks Acquires NDTV Lifestyle For $55M

Following Scrips Networks Interactive's recent buy of 65% stake in Travel Channel from Cox Communications for $181 million in cash, the US-based media group has sealed a similar deal in India by buying a majority stake (69%) in NDTV's fashion and aspirational channel NDTV Lifestyle (Good Times) for $55 million. In September, NDTV began talks with Scripps to acquire NDTV Lifestyle, which is run by a UK based subsidiary of the group NDTV Networks Plc and co-branded with the UB Group, and the acquisition is expected to be completed by the end of the first quarter 2010. We are curious if there would be a brand change with the entry of Scripps as a majority owner. We attempted to contact NDTV Networks CEO Vikram Chandra, but were unable to reach him. Chandra didn't say much to ContentSutra about the deal, except that a part of the money from Scripps will be used to will be used to pay holders of bonds that the company bought back for $72.4 million. Scripps' Channels, Expansion Scripps' media portfolio includes TV and Internet brands such as HGTV, Food Network , DIY Network, Fine Living Network and Great American Country. It also offers interactive search and comparison shopping services in association with BizRate and Shopzilla. This acquisition follows a series of announcements to expand its distribution into Europe, Middle East, Africa and Asia in preparation for the January 2010 launch plans for its Food Network channel. Food Network's top programs are The Next Food Network Star, Diners,…

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