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NDTV To Buy Back NBC Universal’s 26% Stake In NDTV Networks

nbcu-ndtvThis just in: media company NDTV Ltd has informed the exchanges that it has decided to buy back the 26% stake that NBC Universal had invested in its subsidiary NDTV Networks Plc (NNPLC) in 2008. At the time at the deal was done, NBC Universal had acquired 26% for $150 million, and had the option within two years, to increase its holding in NDTV Networks PLC (NNPLC) to 50 percent. NNPLC is the holding company for NDTVs digital media business NDTV Convergence, as well its non-news businesses – NDTV Imagine Ltd, NDTV Lifestyle Ltd, NDTV Labs Ltd etc.

For the last financial year (FY09), NDTV had reported a consolidated net profit of Rs. 1.198 billion facilitated largely by the “stake sale” during the fiscal, in NNPLC.

According to a statement filed with the exchange:

New Delhi Television Ltd (NDTV) has informed BSE that NDTV Group and NBC Universal had, in May 2008, entered into a strategic partnership for an effective indirect 26% stake in NDTV Networks Plc, the holding Company of the non-news business of the Group.

Further the Company has informed that New Delhi Television Ltd, through its subsidiary NDTV Networks BV, has agreed with NBC Universal to buy back NBC Universal’s 26 percent stake in its subsidiary NDTV Networks Plc, to further consolidate its position. (Source)

Note: we’re in the process of setting up an interview with the NDTV management. Do leave questions in the comments, in case you have any.

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Written By

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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