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.
NDTV India controls news channels, NDTV 24×7, NDTV Profit, among others.
The group flagship has a market capitalisation of Rs 1,992 crore compared with Rs 3,609 crore of rival TV18.
The broadcaster is also believed to have scrapped its initial public offer for the moment and may reconsider it later.
NDTV group CEO Narayan Rao said, “We have tie-ups to fulfil finances for all our new ventures.”
Source : Agencyfaqs