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The Board of Directors of New Delhi Television Limited (NDTV) has approved the acquisition of the GoodTimes channel from Lifestyle & Media Broadcasting Limited (LMBL) through a slump sale, with the transaction valued at up to Rs.18 crore.
The decision was disclosed in a recent filing with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
According to NDTV’s regulatory filing, the acquisition will be undertaken on a going concern basis and forms part of the company’s strategy to diversify operations and strengthen its long-term positioning in the broadcasting sector. The move is expected to enhance the network’s capabilities while broadening its portfolio beyond news.
The company said a binding Term Sheet has already been executed with LMBL, laying out the key terms and conditions of the transaction. Completion of the deal will involve signing a Business Transfer Agreement (BTA) along with other related documents, subject to customary corporate and regulatory approvals.
Since LMBL is a joint venture of NDTV, the deal qualifies as a related party transaction. However, NDTV clarified that the acquisition would be executed on an arm’s length basis, backed by a valuation report from a registered valuer. It further emphasised that neither the promoters nor the promoter group directly hold a stake in LMBL, apart from possible indirect shareholding.
The all-cash transaction is valued at up to Rs.18 crore on a cash-free, debt-free basis, with adjustments possible under the agreed terms. The deal also covers the transfer of television advertising inventory tied to the GoodTimes channel.
A key condition of the acquisition is the transfer of the television channel license, which remains subject to approval by the Ministry of Information and Broadcasting. NDTV expects the transaction to close within three months, depending on the statutory clearances.
The addition of GoodTimes marks a strategic expansion for NDTV as it looks to strengthen its content mix and capture new opportunities in the lifestyle and entertainment space, complementing its established news brand.
