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TV Channel Changes Hands for Rs 18 Crore
17 Aug
Summary
- New Delhi Television acquired GoodTimes channel business.
- The deal is valued at a total consideration of Rs 18 crore.
- Regulatory approvals are pending for the acquisition completion.
New Delhi Television has entered into an Asset Purchase Agreement to acquire the business undertaking of the GoodTimes channel. The seller in this transaction is Lifestyle & Media Broadcasting. The agreed-upon lump sum consideration for this acquisition stands at Rs 18 crore.
The completion of this business acquisition is subject to several closing conditions. These conditions include the receipt of requisite approvals from the Ministry of Information and Broadcasting (MIB). Additionally, other applicable regulatory and statutory approvals must be obtained before the deal can be finalized.
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