Scripps Networks Interactive acquires 69% of NDTV Lifestyle

ACQUISITION

Acquirer: Scripps Networks Interactive
Web: http://www.scrippsnetworksinteractive.com
Location: USA, Cincinnati, OH
Region: North America
Description: Lifestyle-oriented content for television and the Internet
Contact: Kenneth W. Lowe, Chairman of the Board, President and Chief Executive Officer

Target: NDTV Lifestyle Ltd
Web: http://goodtimes.ndtv.com
Location: India, New Delhi
Region: Asia
Description: Lifestyle broadcaster
Contacts:

  • Dr. Prannoy Roy, Chairman
  • Radhika Roy, Managing Director
  • Saurav Banerjee, Chief Financial Officer

Approximate value: $55,000,000 valuing the company at $79,000,000

Details: Scripps Networks Interactive acquiring 69 percent of NDTV Group’s lifestyle programming subsidiary, NDTV Lifestyle Ltd. NDTV Lifestyle is anchored by NDTV Good Times, India’s top-ranked English-language lifestyle television channel. NDTV Group will retain a 31 percent stake in the joint venture. Scripps are paying $55M, M.     

SEPARATE ANNOUNCEMENT: New Delhi Television Ltd (NDTV) has informed BSE that NDTV Networks Plc., a UK subsidiary of the Company has repurchased the US$ 100 Million Step up Coupon Bonds due 2012. The Bonds have been repurchased for US$ 72.4 Million. NDTV Networks Plc. has financed the repurchase through Bank Loans. The repurchase has allowed NDTV Networks Plc to significantly reduce its outstanding borrowings and also to cut down on interest burden.

Links:

Database Acquisitions – November 2009

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