NBCU Takes 26% Stake in India’s NDTV

Jan 22, 2008  •  Post A Comment

NBC Universal has formed a long-term strategic partnership with India’s NDTV, beginning with NBCU paying a reported $150 million to acquire a 26% stake in NDTV Networks, a holding company for entertainment and lifestyle channels, digital media, media products and services.
The memorandum of agreement was announced Monday by NBC Universal President-CEO Jeff Zucker and NDTV Chairman/Co-Founder Dr. Prannoy Roy. The deal includes an option for NBCU to become a 50% stakeholder at fair market value in two years.
In April, Mr. Zucker announced his plans to more than double the size of NBCU’s international operations over the next three years. The deal underscores NBCU parent company General Electric’s ongoing commitment to India.
“This will be a significant investment for NBC Universal in an important emerging market and further illustrates our commitment to expand our company internationally, particularly in high-growth areas,” Mr. Zucker said in the announcement. “The Indian TV market is expected to grow at 16% annually, which provides huge opportunities now and into the future.”
“This agreement is a significant step for us,” Dr. Roy said. “Today, two pioneers in the television history of the world’s two largest democracies have come together to cater to a dynamic and demanding set of viewers.”
Tejpreet Singh Chopra, president and CEO of GE India, said, “With today’s announcement, GE is moving to further strengthen its presence in and commitment to India. The media industry in the country offers tremendous opportunity for growth.”
Among the channels operated by NDTV Networks are NDTV Imagine, a Hindi general-entertainment channel that launched Monday, and the recently unveiled lifestyle channel NDTV Good Times.


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