A clutch of private equity (PE) investors, which include Lehman Brothers, Goldman Sachs, CSFB and eight others, would acquire nearly 24 per cent stake in NDTV Networks, a fully owned subsidiary of NDTV India, for $120 million. The valuation of the new company would, thus, be over Rs 2,200 crore. |
The UK-based NDTV Networks has five companies in its fold. It holds 100 per cent in NDTV Labs, which will develop the market and sell software and technology products; NDTV Imagine, which will operate a non-news Hindi mass entertainment channel; NDTV Lifestyle, which will provide content to TV channels in India and abroad; and NDTV Convergence, which houses all dotcom and mobile properties of the group. NDTV Network also owns 50 per cent in NDTV Media services with Genpact for media process outsourcing. |
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NDTV India controls news channels, NDTV 24x7, NDTV Profit, among others. |
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The group flagship has a market capitalisation of Rs 1,992 crore compared with Rs 3,609 crore of rival TV18. |
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The broadcaster is also believed to have scrapped its initial public offer for the moment and may reconsider it later. |
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NDTV group CEO Narayan Rao said, "We have tie-ups to fulfil finances for all our new ventures." |
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