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Time Warner to buy NDTV Imagine
Los Angles, Dec 17: Time Warner Inc has agreed to pay $126.5 million for India's NDTV Imagine Ltd, an operator of NDTV Networks Plc, to increase its international programming.
Time Warner's Turner Asia Pacific Ventures Inc will buy 92 percent stake in Imagine.
The remaining 8 per cent stake in Imagine will be held by the current Imagine management.
"The deal is subject to regulatory approval. Sameer Nair will remain CEO of Imagine," Time Warner said in a statement.
OneIndia News
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Story first published: Thursday, December 17, 2009, 14:21 [IST]
