Broadcast media firm NDTV Ltd is in plans to enter ecommerce, as reported by BSE. NDTV’s board has approved that NDTV Worldwide Ltd, which is a subsidiary of NDTV Ltd., will enter the e-commerce business soon.
In a filing to the BSE, NDTV has said, “As a part of the restructuring exercise of the NDTV group companies, the board has approved the setting up of a new subsidiary.”
“The board has accorded its principle approval for NDTV Worldwide Limited, a subsidiary of the company, to enter ecommerce business,” states the filing to BSE.
The board has also proposed to consolidate NDTV Convergence Limited and NDTV Labs Limited, indirect subsidiaries of the company into this new subsidiary through a scheme of amalgamation though unnamed. NDTV Convergence takes care of NDTV’s digital business i.e. NDTV’s online and mobile. Whereas NDTV Labs offers real time data integration, graphic automation and branding solutions.
Apart from NDTV, other media firms including Bennett Coleman & Co Ltd (Times of India) and Network18 also runs ecommerce portals, Bennett Coleman & Co runs Indiatimes Shopping and and Network18 runs HomeShop18 and BookMyShow.