NBCU Takes Stake in Indian Media Company

LONDON/DELHI, January 22: As part of its efforts to boost
its international operations, NBC Universal has inked a deal to acquire a
26-percent stake in NDTV Networks, a division of the Indian media company NDTV,
for a reported $150 million.

NDTV Networks includes NDTV Imagine, a Hindi-language
general entertainment network, helmed by former STAR India chief Sameer Nair,
that launched yesterday, as well as the lifestyle network NDTV Good Times. More
targeted channels are planned for this year. The company’s NDTV Emerging
Markets division, meanwhile, is a consulting business that has helped roll out
networks in Indonesia, Malaysia and the Middle East. The company is also
involved in digital media, with its flagship NDTV.com, the leading news site in
India, and the mobile channel NDTV Active.

The deal does not include NDTV’s successful news channels:
the English-language NDTV 24×7, the business-news-targeted NDTV Profit, and the
flagship Hindi-language NDTV India.

The agreement announced today includes an option for NBC
Universal to increase its stake to become a 50 percent partner in NDTV
Networks. The option would be exercisable at fair market value in two years’
time.

Announcing the deal, Jeff Zucker, the president and CEO of
NBC Universal, said: “This will be a significant investment for NBC Universal
in an important emerging market and further illustrates our commitment to
expand our company internationally, particularly in high-growth areas. The
Indian TV market is expected to grow at 16 percent annually, which provides
huge opportunities now and into the future.”

Dr. Prannoy Roy, the chairman, joint founder and majority
shareholder of NDTV, added: “This agreement is a significant step for us.
Today, two pioneers in the television history of the world's two largest
democracies have come together to cater to a dynamic and demanding set of
viewers."

—By Mansha Daswani