Media firm NDTV today said it is in talks for a strategic partnership in its lifestyle business NDTV Lifestyle that runs the channel NDTV GoodTimes.
"Negotiations are currently underway for a strategic alliance in the lifestyle business. The proposed alliance is only at the stage of discussions," NDTV said in a filing to the Bombay Stock Exchange (BSE).
As and when the transaction is at a definitive stage, the company shall disclose the same to the stock exchanges, in accordance with the applicable law, it added.
Media reports had said a foreign investor is looking at buying a stake in NDTV Lifestyle, a subsidiary of NDTV. NDTV Lifestyle runs a channel, NDTV GoodTimes.
Yesterday, the stock had surged nearly 18 per cent to touch a year-high of Rs 128.45 on the BSE.
However, after opening on a firm note today, the stock later on saw profit-booking and fell 5.39 per cent to end at Rs 119.25.
"Regulatory approvals would be required for the transaction for which applications have been filed, but which have not been received," NDTV said.