New Delhi Television Ltd (NDTV) on November 19, 2009, informed BSE that NDTV Group and US media company Scripps Networks Interactive Inc., had reached a definitive agreement to create a strategic alliance for lifestyle channels in India.
The proposed transaction will result in Scripps Networks Interactive acquiring 69 per cent of NDTV Group’s lifestyle programming subsidiary, NDTV Lifestyle Ltd. NDTV Lifestyle is anchored by English-language lifestyle television channel NDTV Good Times. NDTV Group will retain the remaining 31 per cent stake in the joint venture.
It is learnt that Smeeta Chakrabarti, CEO, NDTV Lifestyle, would continue to remain CEO of the venture.
In addition to operating NDTV Good Times, Scripps Networks Interactive and NDTV Group are contemplating launch of other lifestyle television channels through the NDTV Lifestyle partnership.
Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion websites and broadband vertical channels. The company’s media portfolio includes: Lifestyle Media, with lifestyle television and Internet brands HGTV, Food Network, DIY Network, Fine Living Network (FLN) and country music network Great American Country; and Interactive Services, with leading online search and comparison shopping services BizRate and Shopzilla.