News and entertainment broadcaster New Delhi Television Ltd (NDTV) has announced that it will form a new company for building infrastructure such as studio, production facilities and so on. The offshore subsidiaries of NDTV will invest upto $150 million as Cumulative Convertible Preference Shares or any other instrument as deemed appropriate. The company informed the BSE today.
In April, NDTV has said that it was evaluating options to restructure the company, including the demerger of its news-related businesses into a separate entity. The reorganisation could include demerger/split of the company into news-related businesses and investments in ‘beyond news’ businesses, which are currently held through its subsidiary NDTV Networks Plc. The move was aimed at unlocking shareholder value and for promoting focused growth of its various businesses.
NDTV Networks holds the company’s news, entertainment, lifestyle channels and digital media business, including NDTV Imagine, NDTV Lifestyle and NDTV Labs.
