In order to expand its presence in the television entertainment space, Delhi-based news broadcaster NDTV has sold 26% stake in NDTV Networks to NBC Universal, leading international media and entertainment company, for $150 million (around Rs 580 crore).
As per the agreement with NDTV, NBC Universal can increase its stake to 50% in NDTV Networks by 2010.Last year, private equity investors had bought a 24% stake in NDTV Networks for about $120 million (around Rs 470 crores).(Related Story)
Through this association, NDTV will gain access to various television formats including talk shows of NBC Universal. Both companies will soon inititiate dialogues over the exchange of programming formats and shows.
Read more in The Business Standard article.
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