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Asked specifically if HT and Star have been talking to each other
formally on a possible joint venture for Star News channel, Bhartiya,
said, "No conclusions have been reached." She also pointed out that
Star has been talking to many people regarding a joint venture.
She was answering questions from journalists after a meeting with
information and broadcasting (I&B) secretary Pawan Chopra this
evening.
Asked whether Henderson Global Investment has picked up 20 per
cent stake in HT Media, Bhartiya confirmed the development. However,
she did not specify whether the investment was meant only for HT's
proposed Mumbai edition or for the whole group.
Interestingly, while Bhartiya was meeting the I&B secretary on
the sixth floor of Shastri Bhawan, which houses among other ministries
the I&B ministry too, arch rival Vineet Jain of Times of India was
part of a media delegation that was closeted with I&B minister Ravi
Shankar Prasad, on the floor below.
Bhartiya also said that the investment of Henderson was in line
with the guidelines prescribed by the Indian government. She, however,
did not specify whether an application to this regard has been moved
with the Foreign Investment Promotion Board (FIPB).
Just for records, Australian media tycoon Kerry Packer has some
investments in Henderson.
Earlier, a section of the media had speculated on the fact that
Murdoch was picking up a minority stake in HT. In turn, these reports
had said , 51 per cent of Star News was being offered to HT and/or
Bhartiyas so that the news channel could conform to guidelines and
avoid further controversies that had been hounding Star News for
some time. The deal was supposed to have been struck in London.
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