Murdoch to invest $100 Mn on 6 new TV channels in India
Mumbai: Rupert Murdoch's Star Group will invest $100 million (Rs.4.2 billion) to launch six new television channels in India within the next 12 months, Murdoch told.
Murdoch is here to announce the launch of the Dow Jones India Titan 30 Index.
Star Group is owned by the United States-based global media conglomerate News Corporation. Murdoch heads News Corporation which last year acquired global business news and information services firm Dow Jones in a $5 billion (Rs.211 billion) buyout.
News Corporation, however, "has no plans to acquire stakes in the Indian print media as there is a 26 percent cap on foreign ownership in print," Murdoch said.
"We don't see ourselves taking a stake as we don't want a miniscule stake," he added.
Star currently operates 17 channels in India, including some regional channels, catering to India's many different ethnic groups. The new channels being planned will all be regional channels, Star Group officials said.
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Reader’s comments
Comment 1: Rupert Murdoch Media Empire= Italians Berlusconi or Holyywoods TV Serial`s JR? and all have the similarity, with dirtiest manner attempt to remain on power and not with honesty. If India gets the shadow of this Scrupelous Media empire person , is like Sun Eclips for India?. "SURYA-GRIHAN" Indians should think thousand times, what they may view, after the Debut on TV`s of this Media?
Posted by : Kamath - Wednesday, August 06, 2008
Posted by : Kamath - Wednesday, August 06, 2008
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