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NEW DELHI: News major NDTV's plans to enter the broadcast
entertainment arena has just moved up a gear. The finance
ministry has approved foreign investment of Rs 5.85 billion
by NDTV Networks UK in wholly owned subsidiary companies -
NDTV Imagine and NDTV Lifestyle.
The approvals for foreign direct investment in the two companies
are for the upcoming launch of NDTV's Hindi general entertainment
and lifestyle channels.
It was Indiantelevision.com that reported that NDTV Group had
floated Networks Plc, UK, which would play a big role in bringing
in investments for the entertainment and other non news channels.
The Rs 5.85 billion funding that NDTV has secured corroborates
an earlier media report that had said that $106 million would
be invested into NDTV Imagine while $25.23 million would be
pumped into NDTV Lifestyle, a channel dedicated to travel,
food, fashion, shopping and health and wellness.
The Foreign Investment Promotion Board (FIPB) cleared NDTV's
FDI application in its meeting held on 14 February.
NDTV Networks will be driving the group's new business initiatives
worldwide comprising entertainment, lifestyle, convergence,
outsourcing, new channels set up in different countries and
software/technology development.
Also Read:
NDTV
floats subsidiary in Netherlands
NDTV Networks Plc, UK, seeks FIPB nod
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