Further expanding its reach in India, Time Warner Inc.'s Turner Broadcasting is shelling out $126.5 million for a 92% stake in NDTV Imagine, a popular Hindi general entertainment channel, and some smaller assets.
Turner already owns several networks in India, including versions of CNN and Cartoon Network. It also owns Pogo, a children's channel.
"India continues to be a key priority for us," said Steve Marcopoto, president of Turner Broadcasting's Asia Pacific unit.
Besides NDTV Imagine, Turner is taking control of NDTV Imagine Pictures, a movie production company, and a couple of smaller networks. The parent of NDTV Imagine is New Delhi Television, a closely held Indian broadcaster headed by husband-and-wife team Prannoy and Radhika Roy that owns dozens of channels.
Time Warner this year spent $240 million for a stake in CME, Central Europe's largest television programmer.
