Zee Entertainment Enterprises Ltd and TV Today Network Ltd are in the fray to buy New Delhi Television Ltd’s business news channel NDTV Profit, according to three persons with direct knowledge of the matter who didn’t want to be identified.
They add that there is also another buyer in the race for the channel that has been on the blocks for sometime now.
Manisha Natarajan, spokeswoman for NDTV, declined comment.
Emails and phone calls to Zee and India Today groups did not elicit a response.
“If a good deal comes by, NDTV will certainly consider it. If the valuation is attractive, then the group may also consider selling the lifestyle channel as well,” said a senior NDTV official directly involved in the matter who spoke on condition of anonymity.
It wasn’t immediately clear what assets would be part of the company along with NDTV Profit. NDTV’s news channels share most of their resources.
Zee and TV Today do not have a presence in the English business news space. Acquisition of NDTV Profit will mark their entry into English business news industry, which is currently dominated by CNBC-TV18. Bennett, Coleman and Co. Ltd’s ET Now channel and Bloomberg TV India, part owned by Bloomberg LP, also compete with NDTV Profit in the business news space.
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They add that there is also another buyer in the race for the channel that has been on the blocks for sometime now.
Manisha Natarajan, spokeswoman for NDTV, declined comment.
Emails and phone calls to Zee and India Today groups did not elicit a response.
“If a good deal comes by, NDTV will certainly consider it. If the valuation is attractive, then the group may also consider selling the lifestyle channel as well,” said a senior NDTV official directly involved in the matter who spoke on condition of anonymity.
It wasn’t immediately clear what assets would be part of the company along with NDTV Profit. NDTV’s news channels share most of their resources.
Zee and TV Today do not have a presence in the English business news space. Acquisition of NDTV Profit will mark their entry into English business news industry, which is currently dominated by CNBC-TV18. Bennett, Coleman and Co. Ltd’s ET Now channel and Bloomberg TV India, part owned by Bloomberg LP, also compete with NDTV Profit in the business news space.
Read More . . . .
