The giant media organisation of America, NBC Universal has recently acquired a 26 per cent stake in the major media house of India, NDTV Networks for an investment of $150 million. The NDTV Networks is the overseas subsidiary that operates the entertainment and lifestyle channels and digital media ventures of the New Delhi Television.
The President and CEO of NBC Universal, Mr. Jeff Zucker has made the announcement regarding the acquisition and said that the acquisition was made as a part of the NBCs goal to grow its business outside of the US, and in particular India. In his words, "India is one of the most important markets in the world and I think it will become more important in the months and years to come. This was another sign of our parent company, General Electrics commitment to India". The President and CEO of GE India, Mr. Tejpreet Singh Chopra also expressed his views about the acquisition and said that the company was virtually evaluating all areas in the media space. He added that the media was going to play a significant role in the companys growth plans for the country in future.
The other half of the deal, the Chairman of NDTV, Dr Prannoy Roy was also contacted and requested to say something about the acquisition and in reply, he said, "India is a vibrant economy, alive and kicking, with a media scene that is way ahead of that of many developed countries". While commenting on the matter, the President of NBC Universal International, Mr. Peter Smith said that the $5-billion Indian TV market is currently growing at a rate of 16 per cent and they are expecting the market to reach $9 billion in the next few years.
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| Posted : 1/24/2008 |
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