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NDTV and Astro ink strategic pact for lifestyle channels
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New Delhi Television Ltd. (NDTV) and a subsidiary of Astro All Asia Networks Plc have reached a definitive agreement to create a strategic alliance for lifestyle channels in India.


As per the proposed transaction, South Asia Creative Assets Ltd. (which is a subsidiary of Astro All Asia Networks plc) will acquire a 49% stake in NDTV Lifestyle Holdings Pvt. Ltd. (NLHPL) in two tranches, the proposed holding company for NDTV Lifestyle Ltd. by way of subscription of US$40mn.


The balance 51% stake in the joint venture will be held by NDTV.


NDTV Lifestyle operates NDTV Good Times, one of India's leading English-language lifestyle television channels.


The transaction is subject to receiving all requisite regulatory approvals.


In addition to operating NDTV Good Times, NDTV and Astro may also engage in non-material diversification into complementary lines related to the lifestyle segment through the joint venture company.


Astro is an integrated cross media group, with presence in Malaysia, India, Middle East and other regional and international markets, primarily engaged in the provision of direct-to-home subscription television services, radio services, film library licensing, multi-media interactive services, and television content creation, aggregation and distribution.


Astro also has investments in pay television and radio broadcasting in India.

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