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Lumiere Movies is an Indian movie channel owned by Turner Broadcasting System based in Mumbai. The channel was launched by NDTV Group in joint venture with Alliance Lumière Pvt. Ltd as NDTV Lumière. The channel provides access to the World wide films following their release. The channel also hosts the events and promotions, such as conducting workshops with world renowned film personalities and interviews with the directors and the cast, offering insight into the film. On 8 December 2009, it was announced that Turner Asia Pacific Ventures (a wholly owned subsidiary Turner Broadcasting System) had acquired a 92 per cent stake in NDTV Imagine Ltd. NDTV’s 76 per cent stake in NDTV Imagine would be given to Turner for $67 million, the Time Warner company would acquire fresh equity worth $50 million to get 92 per cent control. NDTV Imagine Ltd. runs NDTV Imagine, NDTV Lumiere and NDTV Imagine Showbiz television channels and film production and distribution company, NDTV Imagine Film Co. The purchase received approval from the Time Warner board on 17 December 2009. At the end of the $126.5 million deal, Turner holds 92% in NDTV Imagine Ltd. while 3.2% is retained by NDTV Networks and the remaining 4.8% is held by its chief executive officer Sameer Nair and other Imagine employees. NDTV announced on 24 February 2010 that it has received all the regulatory approvals and the transaction has been concluded on 23 February by transfer of shares, amounting to 85.68 per cent of NDTV Imagine Ltd, by NDTV Networks Plc to Turner Asia Pacific Ventures. The three channels will be under Turner General Entertainment Networks, a holding company that will infuse fresh capital to fund the network's growth. The 'NDTV' brand will drop out and the channels will be labelled Imagine TV, Lumiere Movies and Imagine Showbiz. |
