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NDTV To Sell 49% In Lifestyle Biz To Astro For $40 Million

Perhaps it was worth the wait: media company NDTV has reached an agreement with Malaysian co Astro All Asia Networks to sell 49% stake in its Lifestyle channels business for $40 million, and create an alliance for "non-material diversification into complementary lines related to the lifestyle segment". So, events and merchandise? NDTVs lifestyle business currently includes the channel NDTV Good Times (with a co-branding agreement with Kingfisher). NDTV will hold the majority 51% stake in the joint venture with Astro. NDTV Lifestyle is a loss making entity, though its situation appears to have improved. The company reported a turnover of Rs. 31.6 crore ($6.93 million) for the year ended March 31st 2010, up 10% year on year, and a loss of Rs. 7.16 crore, down 38.56% from Rs. 11.65 crore the previous fiscal year. The Deal South Asia Creative Assets Limited, a subsidiary of Astro All Asia Networks plc, will acquire a 49% stake in NDTV Lifestyle Holdings Private Limited in two tranches. NDTV Lifestyle Holds Private Limited is the proposed holding company for NDTV Lifestyle Limited, the lifestyle subsidiary of NDTV. NDTV Lifestyle: From Scripps To Astro This deal comes five months after a deal for the lifestyle channels with Scripps was called off. Scripps was going to acquire 69% in the lifestyle business for $55 million, valuing the business at $79.71 million. The joint venture with Astro appears to value the business marginally higher, at $81.6 million. Also take into account that Astro isn't taking the majority shareholding.…

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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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