NDTV sells stake in NDTV Imagine to Turner Asia

NDTV sells stake in NDTV Imagine to Turner Asia
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First Published: Tue, Dec 08 2009. 11 58 AM IST
Updated: Tue, Dec 08 2009. 11 58 AM IST
Mumbai: New Delhi Television (NDTV) said on Tuesday it sold most of its indirect stake in NDTV Imagine Ltd to Turner Asia Pacific Ventures Inc in a deal worth $117 million.
The deal involves sale of 76% stake held in NDTV Imagine via its unit, NDTV Networks Plc, for $67 million and also fresh issue of equity shares worth $50 million to Turner, NDTV said in a statement.
The transaction is pending approval from board of Turner’s parent, Time Warner Inc, and regulatory approvals, it added.
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First Published: Tue, Dec 08 2009. 11 58 AM IST
More Topics: NDTV | Media | Stake Sale | Turner Asia | NDTV Imagine |