It’s Official: NBC Universal Picks Up 26 Percent Stake In NDTV Networks For $150 Million
By Staci D. Kramer - Tue 22 Jan 2008 06:55 AM PST
As our sister site ContentSutra confirmed Jan. 2, NBC Universal (NYSE: GE) is taking a major stake in the UK subsidiary of Indian media company NDTV. The price tag: $150 million. NBCU has an agreement to acquire an “effective” 26 percent share in NDTV Networks, the holding company for NDTV Ltd.’s digital media , entertainment and lifestyle channels, NDTV Labs, etc. The deal comes with an option for NBCU to become a 50 percent partner.
NBCU made the announcement during CEO Jeff Zucker’s London visit meant to underscore the company’s commitment to increasing international revenues. Zucker has committed to doubling the size of NBCU’s international ops by 2010.
Posted in: Companies, NBC Universal, Countries, Asia, India
