TimeWarner buys Hindi channel to help overseas expansion
TimeWarner, which owns CNN, will buy up 92% of India’s Hindi channel, NDTV Imagine, for $126.5 million to increase its international offerings. After spinning off HBO, its cable system, and its AOL Internet service this year, the group wants to boost programming and expand outside the US. India looks good to the company because of its huge market and rapid technology catch-up. TimeWarner’s pockets are pretty deep for now, with $7.13 billion in cash and equivalents in its war chest. The group’s shares have climbed some 45% in 2009, and finally, by ridding itself of the shackle that was AOL, the owners of TIME magazine are looking to the future. Read more: Bloomberg
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