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Astro All Asia Networks To Buy 49% Stake In NDTV Lifestyle
Malaysian-based Astro All Asia Networks is set to buy 49% stake in NDTV Lifestyle Holding for $40 Mn (around Rs.180 Cr). The deal values NDTV Lifestyle Holding at $81.63 Mn.

NDTV Lifestyle Holding Pvt Ltd will infuse the funds in NDTV Lifestyle, the promoter of NDTV Goodtime which is the lifestyle channel of NDTV Group.

Post government approvals, NDTV Networks Plc, the parent company of NDTV will own 51% in NDTV Lifestyle Holdings, which in turn will own 92% in NDTV Lifestyle.

Transaction Reference: FE

Transaction Note

NDTV Lifestyle had launched NDTV Goodtimes in 2007 in association with Vijay Mallya.

The network offers personality-driven programming and internet content that focuses on a wide range of lifestyle genres, including food, travel, fashion and style.

NDTV Lifestyle is 100% owned by NDTV Networks Plc., a UK-incorporated subsidiary of NDTV Ltd.

Three months back, NDTV Group called off 69% stake sale in NDTV Lifestyle Limited to US- Based Scripps Networks Interactive Inc.

The deal, initiated in November 2009, was expected to be completed by end of the first quarter of 2010. Scripps was to pay around $55 Mn for the stake out of which NDTV would have taken home a cash of $30 Mn, while $25 Mn would have been pumped into NDTV Lifestyle.

The working relationship between NDTV and Astro goes back to five years when the two joined hands to launch a 24-hour news channel for Malaysia and Indonesia called ‘Astro Awani’. NDTV took a 20% stake in this JV in 2005. Again, in 2006 NDTV and Astro bought minority shares in Red FM, the FM radio brand created by the India Today Group which was bought by Kalanithi Maran's Sun Network.

Astro All Asia Networks plc (ASTRO) is Malaysia’s leading cross-media group with significant presence in DTH (Direct-To-Home) TV services, commercial radio and TV programming.

Astro is already an investor in Kalanithi Maran's Sun Direct DTH. It also holds 20% stake in South Asia FM, the private FM venture of the SunTV Group.

It is also looking for more investments in television content creators and cable operators.

Recently, Astro bought 50% stake in New Delhi-based GETIT Infoservices for around Rs.100 Cr and last month Astro acquired 80% stake in Sanjeev Kapoor's Turmeric Vision Pvt Ltd.

Media firm, Viacom 18 Media Pvt Ltd is set to buy London-based AIM listed close-ended investment fund - The Indian Film Company (TIFC).

Source: Dealcurry

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