NDTV Terminates Strategic Alliance Pact With Scripps Networks

Date : 05/04/2010 @ 1:31AM
Source : Dow Jones News
Stock : Scripps Networks Interactive, (SNI)
Quote : 88.19  -0.58 (-0.65%) @ 5:54PM

NDTV Terminates Strategic Alliance Pact With Scripps Networks

Scripps Networks Interactive, (NASDAQ:SNI)
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Indian broadcaster New Delhi Television Ltd. (532529.BY) said Tuesday it has called off a deal with Scripps Networks Interactive Inc. Cia. (SNI) which would have seen the U.S. publisher pick up a majority stake in NDTV's lifestyle programming arm.

No reason was given for the termination of the deal.

In November, Scripps had agreed to pay $55 million for a 69% stake in NDTV Lifestyle, the operator of the channel NDTV Good Times.

The deal was expected to be closed by the first quarter of 2010.

-By Kenan Machado, Dow Jones Newswires; +91 22 6145 6107; kenan.machado@dowjones.com


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