afaqs!

NDTV buys back stake from NBC Universal

By afaqs! news bureau , afaqs!, Mumbai | In Media Publishing | October 16, 2009
The move was communicated to the BSE on October 15

New Delhi Television (NDTV) informed the Bombay Stock Exchange earlier yesterday that the group and NBC Universal had entered into a strategic partnership for an effective indirect stake valued at 26 per cent in NDTV Networks Plc in May 2008.

Further, the media company informed that NDTV, through its subsidiary NDTV Networks BV, has agreed with NBC Universal to buy back the 26 per cent stake in its subsidiary, NDTV Networks Plc, from NBC Universal to further consolidate its position.

& #BANNER1 & #NDTV Networks Plc is the holding company of the non-news business of the group, which comprises the digital media business, NDTV Convergence and NDTV Imagine, NDTV Lifestyle and NDTV Labs.

NBC Universal was formed in May 2004 by combining General Electric's NBC with Vivendi Universal Entertainment (part of the French media group, Vivendi SA). GE owns 80 per cent of NBCU, and the remaining 20 per cent is owned by Vivendi SA.