The Alva brothers have signed a term sheet to buyback Turner’s 50 percent stakes in Real Global Broadcasting (RGB). After Turner’s acquisition of NDTV Imagine, Alva Brothers and Turner have parted ways.
Match Box Films, a wholly owned subsidiary of RGB, will also be entirely owned by Alva Brothers Entertainment. Nikhil and Niret Alva, have also repurchased Turner’s 29 per cent in Miditech to take full control of the company.
Turner International had acquired 29 percent stake in Miditech for Rs 850 million in a composite deal but after the failure of Real, the flagship GEC of the joint venture, Turner had acquired another NDTV’s GEC NDTV Imagine. Now, the company is planning to re-launch the Real along with other premium English channels.