Television

NDTV gets board nod to demerge news business

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MUMBAI: It's restructuring time at the NDTV group. On 1 October, the board of New Delhi Television approved the draft scheme of the demerger of its news business into a new company.

According to the scheme the group will be carved into two groups of companies, one involved in "the news and other businesses" and the other in 'Entertainment and specified allied businesses.'

The scheme would become effective 1 April 2009.

According to the company's notice to the Bombay Stock Exchange (BSE), the demerger is being resorted to because the news business and entertainment business function under different regulatory environments. The split up will also help "unlock shareholder value as well as provide increased choice and flexibility to shareholders."

After the demerger, NDTV Limited will continue to remain listed on the BSE and the National Stock Exchange and will engage in non-news businesses. Subject to necessary approvals, the new company would also get listed under Clause claiming to be 8.3.5.1 of the SEBI (Disclosure & Investor Protection) Guidelines, 2000. This new company would engage in news and allied businesses.

NDTV Ltd    NDTV Studios (as the news business is now called inside the group)

NDTV Convergence    NDTV 24x7

NDTV Imagine    NDTV India

NGEn    NDTV Profit

NDTV Lifestyle    NDTV Media

NDTV lumiere    Metronation Delhi

NDTV Labs    Metronation Chennai

NDTV emerging markets 

After the demerger, for every one share currently held in NDTV Ltd, a shareholder will receive one share in the new company: for every Rs 4 face value share currently held in NDTV Ltd, a shareholder will receive a share of equal face value in the company that will acquire the news businesses of NDTV Limited while retaining his earlier NDTV share.

The company also said that the demerger scheme would make suitable arrangements for optimum ownership and use of the very valuable brand of NDTV, apart from ownership and use of common assets.

Additionally, certain undertakings and guarantees provided by NDTV Limited will be undertaken by both the companies after the de-merger.

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