NDTV to hold shareholders meeting to consider demerger scheme

Media conglomerate New Delhi Television (NDTV) on Thursday said it will hold a meeting of its shareholders and creditors this month to seek their approval for the segregation of its news and entertainment businesses.

The company will hold separate meetings of its equity shareholders, secured creditors and unsecured creditors on March 24 for the purpose of considering of scheme of
arrangement between the company and its subsidiaries, NDTV said in a filing to the Bombay Stock Exchange.

"The scheme of arrangement proposes to segregate the news and entertainment businesses," it said.

Apart from some other channels, the media firm runs an English news channel NDTV 24x7, a Hindi news channel NDTV India and a general Hindi entertainment channel NDTV Imagine. The subsidiaries of New Delhi Television Ltd include NDTV Media, NDTV News and Metronation Chennai Television and NDTV Studios.

NDTV News 24x7, NDTV India Plus, NDTV Business, New Delhi Televisions Media, NDTV Delhi and NDTV Hindu Media are also the subsidiary entities of the company. Shares of NDTV were trading at Rs 77.30, down 0.45 per cent in the afternoon trade on the BSE.