NDTV says in talks for its lifestyle business
By ANIThursday, August 19, 2010
NEW DELHI - New Delhi Television Ltd. (NDTV) has revealed that it is in talks for a “strategic alliance” for its lifestyle business.
“The proposed alliance is only at the stage of discussions. Also regulatory approvals would be required for the transaction for which applications have been filed,” the Wall Street Journal (WSJ) quoted the company as saying in a filing to the Bombay Stock Exchange late Wednesday.
The NDTV group operates general entertainment, movies, lifestyle and news channels. NDTV Lifestyle Ltd. runs the NDTV Good Times television channel.
New Delhi Television’s clarification to the stock exchanges comes in the wake of an Aug. 13 report in the Financial Express newspaper, citing unnamed sources, that Malaysia’s Astro All Asia Networks PLC would buy a 49 percent stake in NDTV Lifestyle Holding-which owns NDTV Lifestyle Ltd.-for 40 million dollars.
NDTV recently called off a deal with U.S.-based media company Scripps Networks Interactive Inc. to sell a majority stake in NDTV Lifestyle. (ANI)
