India’s NDTV In Talks With Time Warner and Astro To Replace NBC Universal
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Indian broadcaster NDTV is in talks with two overseas companies—Time Warner (NYSE: TWX) and Malaysia’s Astro—to come in as an investor in its lifestyle business, according to a person familiar with the development. Today morning, NDTV said it will buy back a 26% stake in its non-news subsidiary NDTV Networks from American media conglom NBC Universal (NYSE: GE). We reported in the morning that NDTV was in talks with multiple potential partners. One of the companies will eventually come in as an investor to replace NBC Universal, our source said.
Malaysia’s Astro All Asia Networks Plc. and NDTV already work together. The two companies together run Indonesia’s Astro Awani channel, which broadcasts in the Bahasa language. In 2006, the two companies also joined hands, with a third investor, to buy out the India Today Group from its FM radio venture, Red FM. The radio station was eventually bought by Chennai-based Sun TV Group.
SEE ALSO: NDTV CEO Confirms Meetings With Turner, Downplays Significance
Astro also holds a 20% stake in Kalanidhi Maran-promoted Sun Direct, a direct-to-home service provider.
An NDTV spokesperson declined comment.
The full structure of NDTV’s businesses is here, courtesy IDFC SSKI Research (click to enlarge):
Posted In: Features, Exclusive, Companies, NBC Universal, NDTV, Time Warner
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