Bollywood filmmaker Sajid Nadiadwala on Sunday announced that his company Nadiadwala Grandsons Entertainment (NGE) will acquire 50 per cent stake in a high profile television channel.
The name of the channel has been withheld because an official announcement is soon to follow. The investment is based on an enterprise value of Rs 100 crore, Nadiadwala told reporters here.
On the acquisition, Nadiadwala, director Nadiadwala Grandson Entertainment, said the move was an important step for his company towards consolidation in the television industry. (ET)