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Business – NDTV to buy back NBCU’s 26%

MUMBAI: Dr Prannoy Roy-promoted NDTV Ltd has announced that it will buy back 26 per cent stake of NBC Universal (NBCU) in NDTV Networks Plc, the holding Company of the non-news business of the Group.

NDTV will make the purchase through its subsidiary NDTV Networks BV. “NDTV, through its subsidiary NDTV Networks BV, has agreed with NBCU to buy back NBCU’s 26 per cent stake in its subsidiary NDTV Networks Plc, to further consolidate its position,” it said.

In January 2008, the NDTV Group and NBCU had announced their strategic partnership, where NBCU had bought 26 per cent in NDTV Networks for $150 million.

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October 15, 2009 - Posted by | Uncategorized |

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