Campaign India Team
Oct 10, 2011

NDTV Hindu sells stake to Dina Thanthi

Total sale consideration payable by promoters of Dina Thanthi is Rs15 crore

NDTV Hindu sells stake to Dina Thanthi
As per the corporate announcement made by New Delhi Television Ltd to BSE (Bombay Stock Exchange), on 6 October 2011, New Delhi Television Ltd. (NDTV) and Kasturi and Sons Ltd. (KSL) had entered into an agreement to sell their respective stake in Metronation Chennai Television Ltd. (MNC) to Educational Trustee Company Pvt. Ltd. (ETCPL), promoters of the leading Tamil Daily Dina Thanthi. The total sale consideration payable by ETCPL is Rs. 15 Crores. MNC will become a 100% subsidiary of ETCPL on the completion of the transaction.

Metronation Chennai Television Ltd is a joint venture of NDTV and The Hindu, MNC operated and manage Chennai's first & only city-specific English News & current affairs channel 'NDTV HINDU'.
Source:
Campaign India