Television

Government clears Turner proposal

NEW DELHI: Turner International Inc of the USA, a Time Warner company, is expanding its activities in India envisaging localisation and increased production work, especially for Pogo.

 

The government has approved a proposal of Turner International Inc to amend its activities in India, which, however, does not alter earlier approved foreign investment promises.

 

 

Turner International Inc., USA had submitted that it would like amendments in its present activities, cleared earlier by the government when the Indian subsidiary was allowed to be set up. The Indian arm is called Turner International India.

The new areas of activities, for which clearance has been obtained, are production work, including dubbing in India to increase the quantity and quality of its library of materials.

Though Turner International India was unavailable for comments, industry sources said the change in activity would reflect in the increased localisation of Pogo, a channel that has been specially created for 'tweens' in India.

Meanwhile, the government has also cleared the Dubai-based BE International Mena to pick up 26 per cent equity stake in the Delhi-based Confluence Communications Ltd.

Both the companies are advertising industry players, engaged in providing marketing and communications consultancy, creative, media, events management and below the line activities. The total amount of foreign investment is, though, not very high and has been pegged at Rs 0.426 crore.

These two cases relating to FDI were amongst the 19 approved by finance minister P Chidambaram today on the recommendation of the Foreign Investment Promotion Board (FIPB).

The FDI approvals amount to around Rs 210 million and relate to ministries of commerce, I&B, industrial policy and promotion, health, non-conventional energy sources, steel, textiles and economic affairs.

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