Media conglomerate New Delhi Television (NDTV) today announced that it would a sell its 76 per cent stake in NDTV Imagine to Turner Asia Pacific Ventures for $ 67 million.
The company will also issue fresh shares worth $ 50 million to Turner Asia Pacific. NDTV currently owns an 81 per cent stake in NDTV Imagine through its subsidiary NDTV Networks Plc.
The transaction is subject to receipt of an approval from the board of Time Warner Inc, the parent of Turner Asia Pacific, and from regulatory authorities