Summary:

Turner Broadcasting, a unit of Time Warner (NYSE: TWX), is close to acquiring a “very high level of holding” in general entertainment channe…

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Turner Broadcasting, a unit of Time Warner (NYSE: TWX), is close to acquiring a “very high level of holding” in general entertainment channel NDTV Imagine, according to a person familiar with the development, who asked not to be named. Turner could buy an 80-90% stake in the GEC, the person said. Currently, employee stakeholding in NDTV Imagine Ltd is close to 10%. It’s unclear if NDTV will exit completely and if it does, whether the channel will be rebranded. Under Indian regulations, there is no cap on foreign direct investment in the entertainment broadcasting business.

General entertainment is an estimated Rs2,500 crore market and attracts bulk of the Rs8,000 crore annual ad spends on television in India.

An NDTV spokesperson declined comment. “It is Turner Broadcasting

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