Media firm New Delhi Television (NDTV) today said it will buy back NBC Universal's entire 26 per cent stake in its subsidiary NDTV Networks Plc.
In a filing to the Bombay Stock Exchange NDTV said the company, through its subsidiary, has agreed to buy back NBC Universal's 26 per cent stake in its subsidiary NDTV Networks Plc with an aim to consolidate its position.
NDTV Networks Plc is the holding company of the non-news business of the broadcaster.
However, the company has not disclosed the financial details of the transaction.
In May last year, NBC Universal had entered into a strategic partnership with NDTV for an indirect 26 per cent stake in NDTV Networks Plc.
Shares of NDTV were trading at Rs 161.55 on the BSE, up 2.57 per cent from previous close.
