Television

FIPB clears Star proposal to take 26% stake in Balaji

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/04/30/Balaji.jpg?itok=GVx_jW__

MUMBAI: The Foreign Investment Promotion Board (FIPB) has finally cleared a proposal for Star Group's acquisition of up to 26 per cent stake in Balaji Telefilms Ltd.

Government sources confirmed that the board has cleared the proposal, which was listed as an additional item for FIPBs meeting earlier this month. As per government rules, Star had also obtained a "no objection" certificate from its Indian joint venture partner in the yet to take off Space TV direct-to-home venture for making this investment in Balaji.

Star Group affiliate Asian Broadcasting FZLLC (ABF), the "foreign collaborator" according to government documents, could have a maximum shareholding of up to 41 per cent, subject to future shareholding alignments.

As per an extant policy, 100 per cent foreign direct investment (FDI) is allowed in the production of television software under the automatic route.

Balajis share on the Bombay Stock Exchange ended on Monday at Rs 99.05 after opening for the day at Rs 101.00.

Now that the FIPB has cleared the proposal, a final green signal from the finance minister remains a matter of routine. However, before that happens, Star cannot make an open offer, which is a necessity as per regulatory guidelines.

The open offer is directed to be made by ABF to the shareholders of the production major for acquiring a 20 per cent stake in India's leading content provider at a price of Rs 90 share aggregating Rs 1173.8 million payable in cash.

The open offer would be for 13,042,089 fully paid up equity shares of Rs 2 each; representing 20 per cent of the voting post issue equity capital of Balaji at a price of Rs 90 per share.

The Balaji proposal, cleared on 10 December by the FIPB, was earlier deferred twice. One of the reasons being the nodal ministry for media-related investments, information and broadcasting ministry, had not got back to the FIPB with its comments.

Interestingly, the Rupert Murdoch-controlled Star Group is the only foreign broadcaster that has sought government approval up till now to invest sizably in Indian production houses. Earlier, Star's parent News Corp had picked up about 14 per cent stake in UTV, which bought back the holding some time back. Sony Entertainment TVs intent to buy into SAB TV, the Sri Adhikari Brothers controlled production house, still remains an intent, at least officially.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/Untitled-1_4.jpg?itok=1QESkwZp
Sports entertainment: Mediacorp gains access to ONE Championship content

MUMBAI: ONE Championship, a sports media property in Asia, has established a partnership with Singapore-based multimedia conglomerate Mediacorp. With a reach that spans the nation, Mediacorp will gain access to all ONE Championship content, including its live events.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/Untitled-1_5.jpg?itok=mYZB5KlU
CSA T20 Global League reschedules player draft dates

MUMBAI: CSA T20 Global league has rescheduled its player draft from 19 August to 26 and 27 August. Almost 400 players from 10 countries have confirmed their interest in the league. The owner of Stellenbosch (Brimstone) franchise has meanwhile pulled out of T20 Global League.Therefore, only seven...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/Untitled-1_1.jpg?itok=A2n7KyZA
Sony Max is most watched Hindi Movies channel

BENGALURU:  Sony Pictures Network India (SPN) Hindi movies channel Sony Max was the most watched movies channel in 2017 until week 32 (Saturday, 5August 2017 to Friday, 11 August 2017) as per Broadcast Audience Research Council of India (BARC) data. Sony Max was present during all the 32 weeks of...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/BARC-03-Story.jpg?itok=iAtaTfWi
9XM & Bindass Play slip, Mastiii retains lead

MUMBAI: Mastiii remained on the top of the chart, but witnessed a slight dip in numbers in week 32 of Broadcast Audience Research Council (BARC) all India (U+R) ratings. The channel received 165639 Impressions (‘000s) sum in comparison to last week’s 170033 Impressions (‘000s) sum. B4U Music...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/Star%20Bharat.jpg?itok=VLZe9nJK
Star Bharat: Comedy, devotional & fiction shows start on 28 Aug

MUMBAI: Star India, which is launching Star Bharat from the 28 August at 6 pm, will showcase inspirational stories about journeys of strong and fearless characters that rise for the collective. Celebrating the many facets of Fearless India, Star Bharat unveils a content line-up with strong, rooted...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/FIFA-U-17-WC.jpg?itok=skGC5sxz
FIFA U-17 WC '17: Delhi football fest a curtain-raiser

NEW DELHI: A function under Mission 11 Million (MXIM) programme was held as a curtain-raiser in Major Dhyan Chand National Stadium in the capital over the weekend for FIFA Under-17 World Cup 2017, to be telecast on Sony TV channels, with the objective of promoting football in India, especially...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/BWF-2017.jpg?itok=3Fm52Z8M
Star Sports 1, HD, Hotstar & BWF YouTube to show World Badminton C'ship from 330pm today

MUMBAI: The World Badminton Championships 2017 are scheduled to be telecast live from Monday (21 August) at 3:30 pm India time from Glasgow in Scotland on Star Sports 1 and Star Sports 1 HD. Simultaneously, it will be live-streamed on Star India's Hotstar and YouTube. The BWF championships will...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/DD-800x800.jpg?itok=PriYkDkh
Sponsored serials: Doordarshan issues new invite for eight genres

Doordarshan has invited fresh entries under the sponsored category for the mid prime time band in eight different categories.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/Smriti-Irani.jpg?itok=mgydNZ1A
Doordarshan sourcing agencies' pre-bid meet on 30 Aug

Doordarshan has decided to empanel agencies for crowd sourcing artistes (t

Television TV Channels Terrestrial

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories