NBC Universal picks 26 pc stake in NDTV Networks

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Posted: Sunday , May 25, 2008 at 2328 hrs IST New Delhi: :

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India’s leading news and infotainment group NDTV on Saturday said NBC Universal has picked up 26 per cent stake in NDTV Network for $150 million.

The two companies have successfully concluded a strategic partnership initiative for the NDTV Networks business, NDTV said in a statement. As per the agreement, NBC Universal now has an effective indirect stake of 26 per cent in NDTV Networks Plc through the subscription of shares worth $150 million, it added.

NBCU has the option in two years to increase stake, at the then fair market value, in the holding company of Networks Plc to 50 per cent with NDTV group holding an equal 50 per cent stake, it said.

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