Company operates English-lingo web NDTV Good Times
LONDON — Malaysian media conglom Astro All Asia Networks will acquire a 49% stake in India’s NDTV Lifestyle Holdings for $40 million.
Astro will make the acquisition via its subsid South Asia Creative Assets.
NDTV will hold 51%. The joint venture is subject to regulatory approval.
In May, NDTV had scrapped a deal to sell a 69% stake in Lifestyle Holdings for $55 million to the U.S.’s Scripps Networks.
NDTV Lifestyle operates English-language channel NDTV Good Times.
In July, Astro bought 80% of food broadcaster Turmeric Vision for $26.7 million and has applied to India’s foreign investment promotion board to hike its stake in direct-to-home operator Sun Direct to 35%.