NBC-U exits Indian investment
NBC-Universal is selling out of Indian broadcaster NDTV, with NDTV Networks buying back the stake.
A statement to the Bombay Stock Exchange said: “NDTV, through its subsidiary NDTV Networks BV, has agreed with NBCU to buy back NBCU’s 26 per cent stake in its subsidiary NDTV Networks Plc, to further consolidate its position.”
NBC-U bought into the broadcaster in early 2008 for around US$150 million. But since then, NDTV has been one of several Indian broadcasters which have scaled back ambitious channel plans. In September, it was reported that the company was already seeking a new strategic investor.
What is unclear is whether NBC-U is selling because the investment proved not to be a good strategic fit. Since buying the stake, two NBC-U channels – Sci-Fi and Universal – have launched on various platforms in Asia, but neither have launched in India.