London/Delhi – NBC Universal and NDTV Ltd have formed a long-term strategic partnership in India with the former taking a 26% stake in NDTV Networks, the holding company for the latter’s entertainment and lifestyle channels, digital media and interests including media products and services. The agreement includes an option for NBCU to increase its stake to 50% in the JV company, subject to approval. The option is to be exercisable at fair market value in two years’ time. The deal is expected to be finalized upon approval by shareholders. Jeff Zucker, President and CEO, NBCU, said, “This will be a significant investment for NBC Universal in an important emerging market and further illustrates our commitment to expand our company internationally, particularly in high-growth areas. The Indian TV market is expected to grow at 16% annually, which provides huge opportunities now and into the future.” The deal provides NBCU a significant presence in multiple complementary businesses run by NDTV Networks including Hindi GE channel NDTV Imagine which was launched on Jan 21, new lifestyle channel NDTV Good Times, consulting business NDTV Emerging Markets, digital media arm NDTV Convergence, mobile channel NDTV Active, media process outsourcing business NGEN, as well as media technologies firm NDTV Labs. The move also reinforces NBCU’s parent company General Electric’s ongoing commitment to India.