NDTV intends to split up its operations into two segments – News and Beyond News. The company informed the BSE that they will constitute a committee to evaluate various options, and appoint financial and legal advisors for the same. The Beyond News businesses include the digital media business NDTV Convergence, the channels NDTV Imagine, NDTV Lifestyle, NDTV Emerging Markets (consultancy for launching channels), media process outsourcing co NGEN, and NDTV Labs. NDTV also plans to launch a World Movies channel – NDTV Lumiere. All of these are currently held through NDTVs subsidiary NDTV Networks Plc, in which NBCU had picked up a 26 percent stake earlier this year for $150 million. The separation of the business is intended to help bring in Strategic and Financial partners, as per the filing.
The promoters of NDTV, Prannoy and Radhika Roy, sold 7.85 percent stake in NDTV Ltd – 4.91 million shares for around Rs. 214 crores. Goldman Sachs picked up around 8.16 percent of the company’s equity – around 5.1 million shares. Readers will remember that NDTV promoters had bought back 7.73 percent stake from GA Global in January, and made an open offer for 20 percent more.
We’ve just received the financial results for NDTV Ltd: the company had a net loss of Rs. 185.65 crore for the financial year ending March 31 2008, compared to a loss of Rs. 14.45 crore in the last fiscal. Revenues were Rs. 318.5 crores, up 34.7 percent from Rs 236.5 cr for FY07. The consolidated net loss for Q4 stands at Rs. 117.44 crore, compared to a net loss of Rs 7.40 crore in Q4 last year. As usual, there’s very little on NDTV Convergence in the financial results: just a note that they launched a WAP portal (NDTV Active), and they are focuing on mobile, video streaming, podcasting and “other new media areas”. Also — “The Company currently operates primarily in a single segment of television media and accordingly, there is no separate reportable segment.”
this is what happens to companies run by Commies.
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I am very much shocked to learn that NDTV has been constantly incurring these kinds of losses. I always thought otherwise.