Star gets FIPB approval for new channels, share transfer

MUMBAI: The Foreign Investment Promotion Board (FIPB) has approved a proposal by Star Group to invest in the country to start and create new non-news channels, which in all probability, would be niche channels for the direct-to-home (DTH) platform.

FIPB has also approved share transfer from Indian shareholders to others in companies through which Star proposes to undertake other initiatives.

“The commercial feasibility of creating channels in India has been matched by the liberalisation in foreign investment norms relating to the sector, which now makes it possible for a foreign investor to invest wholly in an Indian company to undertake activities of owning and uplinking a TV channel in India,” the Star application with the FIPB had stated.

However, FIPB’s approval will have to be ratified by the finance ministry before Star can go ahead with its proposed activities.

In its application to FIPB, Star had said that for its newer activities, it proposes to use three companies in India, which have already been incorporated. The need for separate companies was driven by the fact that the nature of content in the (proposed) channels is distinct and this necessitates different skill sets and facilities, which can be more “efficiently housed in different entities.”

The three companies sought to be used by Star are Touch Tele Content India Pvt Ltd (TTCL), PPV Movies & Content Pvt Ltd (PMCPL) and Star Games Development Company Pvt Ltd (SGDPL). Star’s holding in the last two companies would be held by a Mauritius based group company, Star ISP Ltd.

In addition to the investment into fresh equity of PMCPL and SGDPL, Star ISP Ltd will also purchase the existing shares from the current shareholders of the investee company, which were in the process of seeking clearance from the information and broadcasting ministry for uplinking channels from India.

Touch Tele is presently engaged in providing support services to other media companies. PPV Movies and Star Games Development were recently incorporated as companies.

The Star application also stated that amongst the many benefits accruing from this proposal will be investments made in India to create “world class infrastructure related to channel creation that is, on-air promotion, playout (facilities), delivery, etc.”

Latest Reads
FOX Life celebrates a perfect celebrity mismatch in Great Escape’s new season

He’s rugged, she’s delicate. He’s adventurous, and she is spiritual. They are two friends who, at a distance, might seem like polar opposites. But get closer and you are sure to be surprised. FOX Life, India’s favorite premium lifestyle channel,

Television TV Channels Factual & Documentary
Engaging viewers with diversified content, COLORS brings you investigative thriller - Dev2

He thinks like a criminal, is at home around a crime scene and possesses an ironclad will to rid the city of nefarious wrongdoers; Detective Dev Burman returns for an explosive second season on COLORS – India’s premium Hindi entertainment channel.

Television TV Channels GECs
Dishum TV's quest to succeed in the Bhojpuri market

MUMBAI: Week 24 of BARC's data for the Bhojpuri market was out on Thursday. Like most weeks, this time too there were no revelations. For the longest time, this space has been captured by two players - Big Ganga and Bhojpuri Cinema - and there's no evidence to suggest a potential disruption in the...

Television TV Channels Regional
Colors Tamil the new entrant in BARC's week 24 data for Tamil market

MUMBAI: Colors Tamil, the newly launched Tamil regional channel of Viacom 18, was the new entrant in the Tamil market after BARC released its rating for week 24. Star Maa, a Telugu channel of Star TV, topped the charts, with Big Ganga settling for second position. There wasn’t much change in the...

Television TV Channels Viewership
V6 News set to launch Telugu GEC

MUMBAI: VIL Media Pvt Ltd-owned V6 News, a 24-hour Telugu satellite news broadcaster, is set to launch a general entertainment channel. V6 News, launched in March 2012, managed to gain popularity among the audience in Hyderabad and Telangana market within a short span of time. Earlier, it was...

Television TV Channels News Broadcasting
Building on India’s startup revolution, Viacom18 completes first class of itspioneering start-up engagement program VStEP

Viacom18, India’s fastest growing Media & Entertainment company, yesterdayconferred graduation certificatesto five start-ups who were a part of the VStEP program. True to its brand promise of Open New Worlds, Viacom18 has been engaging with start-ups to build a culture of inclusive innovation

Television TV Channels GECs
&TV presents Laal Ishq - passionate love stories with a supernatural twist

We promised to be together forever. Nothing could take us apart - not even death. Even though my body has long gone, my spirit still lives on… my soul will always be with you. For true love, never dies. &TV’s latest offering Laal Ishq, a series of passionate love stories with a supernatural...

Television TV Channels GECs
Zee Anmol retains lead in GEC (U+R) in BARC's week 24 data

Zee Anmol retained its top spot in Broadcast Audience Research Council (BARC) data for week 24 in the Hindi GEC (U+R) market. While Star Utsav and Rishtey swapped their third and fourth positions in the rural market, Star Plus and Zee TV exchanged second and third positions in the urban segment.

Television TV Channels Viewership
BARC, Week 24: Rebublic TV dominates, Mirror Now enters top five

MUMBAI: Times Network’s English news channel, Mirror Now, replaced NDTV in the All India Broadcast Audience Research Council’s (BARC) week 24 rantings, as Arnab Goswami's Republic TV continued to dominate the English news market While Aaj Tak led the charts in two Hindi news markets, ABP News...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories