NDTV sells stake in NDTV Imagine to Turner Asia | business | Hindustan Times
Today in New Delhi, India
Feb 27, 2017-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

NDTV sells stake in NDTV Imagine to Turner Asia

business Updated: Dec 08, 2009 13:18 IST
Reuters
New Delhi Television

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 percent 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.