Rumoured Birla pullout could spell bad news for Star

MUMBAI: Even while Star News is living from week to week as far as permission for uplinking its content is concerned, come media reports that Kumarmangalam Birla has decided to sell his recently acquired 25 per cent stake in Star India's news venture.

Birla was one of seven stakeholders to take up a stake in Media Content & Communication India Pvt Ltd (MCCIPL), the content company Star floated last month to conform to Indian government guidelines for uplinking of news and current affairs TV channels from India. Star offloaded 74 per cent equity in MCCIPL to resident Indians while retaining 26 per cent with itself.

When contacted, an AV Birla Group spokesperson said the company had no comment to offer on the widespread media coverage that Birla (who took a stake in MCCIPL in his personal capacity) was pulling out from Star News. Company sources however, did say that Birla's exit from Star News was "likely to happen".

Star India head of corporate communications Yash Khanna, meanwhile, said, "As far as we are concerned these are all rumours. We have not received any official intimation on this matter from Mr Birla."

If it finally transpires that Birla does indeed pull out of Star News, then Star would have to find another Indian partner(s) in double quick time because Star's application is still to be disposed of and till that happens it has to reapply for an uplink extension every week.

Star had earlier furnished details sought by the home ministry on its shareholding pattern, but talk of Birla pulling out would have put a skewer in the works.

Of the 74 per cent equity Star offloaded in MCCS in favour of resident Indians, 25 per cent each was picked up by Birla and DSP Merrill Lynch chief Hemendra Kothari. Five per cent each was bought by Hindustan Times' Vir Sanghvi, actor Jeetendra Kapoor and Maya Alagh, while lawyer Ryan Karanjawala picked up another four per cent stake.

The Press Trust of India has meanwhile, reported that the struggling Jain TV, promoted by Dr JK Jain, is interested in equity participation in Star News.

Jain told PTI he was keen to partner with Star through a group company NSTPL, which is into video up-linking and has a running teleport in Greater Noida.

Latest Reads
Sony Max pushes its way to most watched Hindi channel across genres

Sony Pictures Network India (SPN) Hindi movies channel Sony Max was ranked second in Broadcast Audience Research Council of India (BARC) weekly list of top 10 channels across genres (across genres list) for week 28 of 2018 (Saturday, 7 July 2018 to Friday, 13 July 2018, week or period under review...

Television TV Channels Viewership
Dangal TV prepares to scale up ambition with new play

When it comes to general entertainment channels (GECs), hitting the sweet spot isn’t all that easy.

Television TV Channels GECs
Comcast drops bid for 21st Century Fox assets, cedes prize to Disney

The fierce bidding war between Comcast and Disney has finally ended with the former dropping out of the race to gobble up the prized 21st Century Fox assets. Comcast will now shift its focus towards sealing the Sky deal.

Television TV Channels Movie Channels
ZEEL elevates Manish Aggarwal as business head of Zee5 India

In a recent development, Manish Aggarwal has been elevated as business head of Zee5 India, the OTT platform of Zee Entertainment Enterprise (ZEEL).

Television TV Channels People
Sun Life enters Tamil market in BARC week 28

Sun Life, the movie channel by Sun TV Network came as a new entrant this week after Broadcast Audience Research Council (BARC) released its ratings for week 28.

Television TV Channels Regional
Colors Gujarati to launch a dance reality show ‘Naach Maari Saathe’

Colors Gujarati is all set to bring a dance show named Naach Maari Saathe. The show which will hit the small screen from 23 July will have Hitu Kanodia, Vyoma Nandi and Neerav Bavlecha as the judges.

Television TV Channels Regional
Brahmagantu’s Gundamma to emerge on Zee Kannada’s DKD

Zee Kannada, creating the best entertainment programmes, has become a household name for quality entertainment.

Television TV Channels Regional
BARC Week 28 : Aaj Tak leads Hindi news genre

The Broadcast Audience Research Council data for week 28 showed Republic TV continuing to dominate the English news genre, whereas Aaj Tak led in Hindi genre. Meanwhile, News Nation stepped down to fourth position in Hindi news genre.

Television TV Channels Viewership
Zee Anmol maintains lead in Hindi GEC (U+R) in BARC week 28

Zee Anmol retained its leadership position in Broadcast Audience Research Council (BARC) data for week 28 of 2018 in the Hindi GEC (U+R) market.

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories