The expansion attempts coincided with the 2008 financial crash and the funds raised for the expansion, through partnerships and bonds were exhausted within a short period of time. NDTV had an ongoing open offer for buyback of shares and the stock prices at the Bombay Stock Exchange (BSE) nosedived from around ₹400 to ₹100 which added a large shortfall. This caused the promoters of the company to go through a chain of borrowings from various multinationals. NDTV also made a series of divestments of its assets through a number of sales in the following period. In August 2009, the chain borrowings had eventually led the promoters debt being transferred to a shell company which was owned by a subsidiary of Reliance Industries. and in October 2009, NBCUniversal decided to pull out of the partnership and sold off its share back to NDTV. Following which, Time Warner bought out a 92% majority stake of the general entertainment subsidiary NDTV Imagine Ltd for US$124.5 million in December. The company had also launched a Dubai based English and Hindi language news channel called NDTV Arabia, targeting Indian expatriates in 2007, which was closed down in 2009.