Broadcast media firm NDTV Ltd is planning to enter e-commerce as a business. The firm will follow the likes of Bennett Coleman & Co Ltd (The Times of India) and Network18 Ltd as other media firms in the country that already have an e-com business.
While BCCL has Indiatimes Shopping, Network18 which runs a slew of television channels including CNBC TV 18 has HomeShop18 besides BookMyShow. Both the media firms also run a number of digital media properties.
According to a filing to the BSE, NDTV said its board has accorded its in-principle approval for NDTV Worldwide Ltd, a subsidiary of the company, to enter the online commerce business. It did not give details on whether it plans to enter as a horizontal e-com firm or as a specialised product or vertical e-com player.
Both Indiatimes Shopping and HomeShop18 are horizontal e-tailers.
The NDTV board has also proposed the consolidation of NDTV Convergence Ltd and NDTV Labs Ltd, its indirect subsidiaries, into one entity. NDTV Convergence owns the website ndtv.com while NDTV Labs is into software application development related to broadcasting business.
(Edited by Prem Udayabhanu)