NBC Universal acquires indirect stake in NDTVMay 26th, 2008 - 6:14 pm ICT by admin
Mumbai, May 26 (IANS) Indian television major NDTV and NBC Universal of the US have successfully concluded a strategic partnership initiative for NDTV Networks. NBC Universal has acquired an indirect stake of 26 percent in NDTV Networks, according to an announcement here Monday. NBC Universal has taken a subscription of NDTV shares worth $150 million.
NBC Universal has the option to increase its stake in NDTV Networks up to 50 percent in the next two years at the prevalent market value of NDTV stocks to square an equal partnership.
It is predicted that the strategic partnership between the two leading media companies is likely to become a major force on the Indian media scene in the coming years.