Scripps Networks Interactive Inc. (SNI 46.05, -0.44, -0.95%) and NDTV Group have ended discussions that would have established a strategic partnership between the two companies to operate lifestyle television networks in India.
The two companies had announced a definitive agreement on the partnership in November, but were unable to come to terms on specifics of the transaction. Discussions ended on Monday.
About Scripps Networks Interactive Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion Web sites and broadband vertical channels. The company’s media portfolio includes: Lifestyle Media, with popular lifestyle television and Internet brands HGTV, Food Network, DIY Network, Fine Living Network (FLN) and country music network Great American Country; and Interactive Services, with leading online search and comparison shopping services BizRate and Shopzilla.
NDTV Announcement on BSE
With reference to earlier announcement dated November 19, 2009 regarding the NDTV Group and Scripps Networks Interactive Inc. had entered into definitive agreements for a strategic alliance, New Delhi Television Ltd has now informed BSE that the NDTV Group has decided to exercise its right to terminate the definitive agreements and is in the process of terminating them.