NDTV is considering sale of strategic Assets
DSIJ Intelligence / 18 Apr 2017
The company stated in a BSE filing that a board meeting will be held for the consideration of inter alia, potential sale of certain strategic assets by a material subsidiary of the company.
NDTV said that it’s looking for sale of strategic assets held by some of its subsidiaries.
The company stated in a BSE filing that a board meeting will be held for the consideration of inter alia, potential sale of certain strategic assets by a material subsidiary of the company.
The company also mentioned that the trading window for the dealing in securities of company will remain closed for 48 hours from the conclusion of the date of board meeting, starting from April 17
Till now the company has not disclosed the name and details of that subsidiary.
NDTV operates in Business news channel of NDTV PROFIT and lifestyle channel NDTV Good Times . Its also involved in various eCommerce businesses, which also include portal in ethnic wear (Indianroots.com),healthy foods (smartcooky.com) and wedding planning (Bandbaja.com).
“The last few months have seen unprecedented consolidation in the media and entertainment space. Companies are increasingly exiting businesses that they may not have the appetite to scale up. The idea is to focus on core businesses and upscale with efficiency rather than spread thin horizontally,” said Priyanka Chaudhary, regional media and entertainment spokesperson for Grant Thornton and a director at Grant Thornton India LLP.
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