Tata Sons, Star Group ink DTH deal; Tatas to hold 80% stake

MUMBAI / NEW DELHI: News Corp's Star Group and Tata Sons today announced the inking of a deal for a 20:80 joint venture agreement for a KU-band direct-to-home (DTH) television service for India.

This follows several draft memoranda of understanding and meetings between Star Group and Tata executives over the past few months. It was last September that broke the news that Star had zeroed down on the Tatas to be their partners in the Indian DTH venture.

The Tatas, being the the majority shareholder, would reportedly be nominating a CEO, while a Star person is expected to be the COO. A name that has been thrown up as a likely candidate from Star's end is G Jagdish Kumar, who is anyway the COO of Space TV, the company Star had set up for its DTH foray.

It is also expected that a formal revised application will be moved in this regard with the government, which has already given a conditional letter of invitation to Space TV.

As far as the investment in this project from the Tatas is concerned, it is reportedly coming by and large through Tata Sons.

A statement issued by Tata Sons states that "the Tata Group and Star Group look forward to building India's largest digital television platform and offering a range of channels including exclusive channels, with interactive features and services."

Expectations of some finalisation of the DTH have been doing the rounds ever since the Star Groups big three of CEO Michelle Guthrie, COO Steve Askew and CFO John Lau flew down to Mumbai last week.

Industry experts pointed out that if Star has to start a DTH service in India, it should not delay the foray as completion of formalities is likely to take some time. With the country and the government getting into the general election mode, such a process may take up more time than usual, if delayed further.

Subhash Chandra's companies ASC Enterprise and Zee have launched a DTH service under the Dish TV brand in the last quarter of 2003. Though the subscriber base may not be as high as is being claimed (50,000), there is no denying that any further delay by Star may give Chandra's companies enough lead time to consolidate operations.

Latest Reads
Applause Entertainment and Sudhir Mishra hold Ronit Roy, Tisca Chopra and Parvin Dabas, ‘Hostage’

Applause Entertainment, the content studio from the Aditya Birla Group brings its audiences a premium drama series that will be a bolt from the blue. ‘Hostages’ is a potent conspiracy thriller fueled by several twists, strong performances and sharp direction. ‘Hostages’ brings together a stellar...

Television TV Channels GECs
ITV Network readies Punjabi music channel

MUMBAI: All the Punjabi music lovers have a new destination to groove to the bhangra. ITV Network is launching a new music channel P Tunes. A source close to the development confirmed the news and revealed that the channel will be launched next month. “There will be two channels, HD which will be...

Television TV Channels Music and Youth
Eros International profit margins up in FY 2018

BENGALURU: The Sunil Lulla-led Indian film and media company Eros International Media Ltd (Eros) saw EBITDA for the quarter ended 31 March 2018 (FY 2018, year, fiscal under review) of Rs 328.21 crore and a margin of 34.2 per cent of operating revenue, about 985 basis points more than the margin of...

Television TV Channels Movie Channels
Zee Cinema to air the World TV Premiere of the family entertainer Pad Man on Saturday, 26th May at 8PM

The people who are crazy enough to think they can change the world are the ones who do. A movie that dared to break stereotypes and talk about a tabooed topic, Pad Man was instrumental in creating a platform to discuss female hygiene in the country. Helmed by the celebrated director R Balki, Pad...

Television TV Channels Movie Channels
TV Today board recommends 45% dividend; numbers up

The board of directors of TV Today Network Ltd (TVTN) has recommended a dividend of Rs 2.25 (45 per cent) per equity share of face value of Rs 5 each for the financial year ended 31 March 2018 (FY 2018, year, fiscal under review). The company has reported 10.7 per cent growth in consolidated total...

Television TV Channels News Broadcasting
Sony takes audiences to the crossroads with new show

MUMBAI: After being a leader in introducing mythological shows, Sony Entertainment Television (SET) is taking a different route. The channel’s latest offering is Zindagi ke Crossroads, a 39-episodic interactive show where the studio audiences will put forward their opinions on the challenges faced...

Television TV Channels GECs
Cosmos-Maya’s next international co-production is a spin-off series of the much talked about 3D Animation feature film Leo da Vinci: Mission Mona Lisa

is another high quality 3D animation international co-production - a spin-off series based on the recently released film Leo da Vinci: Mission Mona Lisa.

Television TV Channels Kids
EPIC TV & Penguin Present The Third Book Of The Devlok With Devdutt Pattanaik Series

Where did the name Radha come from? When did Christianity first come to India? What is the connection between sanskar and dharma? After the enormous success of the first two books in the ‘Devlok with Devdutt Pattanaik’ series, India’s favourite mythologist, Devdutt Pattanaik, is back with a third...

Television TV Channels Factual & Documentary
Banijay Asia and Salman Khan TV collaborates to create content for digital and tv

World’s largest independent content creation group, Banijay Group recently entered Indian & South East Asian market under the guidance of Deepak Dhar with an aim to produce content across genres. Banijay Asia &SK TV, which was launched few years back, come together to create novel and...

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories