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Astro subsidiary gets indirect stake in NDTV Lifestyle

04-March-2011
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Astro subsidiary gets indirect stake in NDTV Lifestyle

NDTV has informed BSE that NDTV Lifestyle Holdings Pvt Ltd and Astro All Asia Neworks Plc have successfully concluded their strategic alliance for lifestyle channels in India, by a subscription of shares for $40 million. Astro All Asia Networks now has an effective indirect stake of 49 per cent in NDTV Lifestyle Holdings.

This announcement from NDTV has come further to the letter dated September 20, 2010, regarding the agreement entered into between NDTV Lifestyle Holdings, an indirect subsidiary of New Delhi Television Ltd, and Astro All Asia Neworks Plc, for the acquisition of 49 per cent stake in the lifestyle business of the NDTV Group by South Asia Creative Assers Ltd, a subsidiary of Astro All Asia Networks.
 

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