Television

Star in process of selling its 26% stake in MCCS to ABP

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/11/09/Untitled-1_9.jpg?itok=wjc5tVXR

MUMBAI: Star India is in the process of transacting the sale of its 26 per cent stake in Media Content & Communications Services (MCCS), the company that owns and operates three news channels, to its joint venture partner Ananda Bazar Patrika (ABP) Group.

"We have offered our shares to ABP Group at a mutually agreed value. We are in the process of selling our entire stake in MCCS", said Star India chief executive officer Uday Shankar in an interview with Indiantelevision.com.

The completion of the transaction will free News Corp from owning any stake in a local news venture in India. Star had already disengaged itself from any involvement in MCCS and the Star brand name had been taken out of the Hindi, Bengali and Marathi news channels.

In April this year, Star and Ananda Bazar Patrika (ABP) Group had announced their divorce. MCCS, the joint venture company with Star as a 26 per cent stake owner and ABP holding the balance 74 per cent, launched Star News in March 2004, Star Ananda (Bengali) in June 2005 and Star Majha (Marathi) in June 2007.

According to a source, Star is selling its stake at a value that is not high. Shankar, however, declined to talk on this. "We do not talk about our financials. All that I can say is that we have split amicably," he said.

MCCS has operationally broken even since FY’11, from its loss of around Rs 60 million in the earlier year on a revenue of Rs 2.13 billion, according to market estimates. The company's revenue in FY'12 has crossed Rs 2.6 billion.

When asked whether Star was planning to buy a stake in NDTV, Shankar said the company had decided to exit the news business in India because of the 26 per cent FDI cap in the news sector. "We will not invest in any news venture including NDTV till the FDI cap is upped. "

Star feels that the whole economics of the TV news business in India is not working. "News Corp is not a financial investor. If you are not in the driver's seat or have no significant say in the business, it doesn't make strategic sense at all," said Shankar.

But won't the former MCCS CEO and a newsman himself miss the news business? "We have created a tremendous entertainment footprint and will now build the sports business. News is definitely a gap in our portfolio. But unless there is a change in the FDI limit, it doesn't make sense," said Shankar.

Balaji Telefilms is the other joint venture company where Star has exited from any involvement but is holding on to its 25.9 per cent stake. While Star has been wanting to sell for long, the promoters of Balaji Telefilms have not made the purchase yet as the share prices have slipped drastically over the years. In the joint venture termination agreement inked in 2008, Balaji had the right to purchase the shareholding held by Star for an aggregate price of Rs 190 per share. But that period has lapsed and Star has the right to independently find a buyer for its stake in Balaji Telefilms.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/22/imsges.jpg?itok=m3hdX5z6
Sports channels reverse viewership loss but still weak in week 6 of BARC

MUMBAI: The viewership of overall sports channels continued to decline as per data published by Broadcast Audience Research Council (BARC) India. Sports broadcasters fell marginally by over 2 per cent in week six (8-14 February) as compared to week five (1-7 February). The decrease in eyeballs is...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/22/alll.jpg?itok=_QN-bmfJ
English news records highest ratings in 2020 during Delhi elections, results week

Runup to elections and election results announcements are big viewership drivers for news channels in India. Assembly elections on 8 February 2020 and announcement of the election results of the New Delhi legislative assembly in week 6 of 2020 (Saturday, 8 February 2020 to Friday, 14 February 2020.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/22/logos.jpg?itok=1vH4NSd9
BARC week 6: Four Zee regional channels lead regional markets

In week six of BARC India ratings, Zee's four regional channels  Zee Bangla, Zee Biskope, Zee Marathi and Zee Kannada led in Bangla, Bhojpuri, Marathi and Kannada markets respectively. Zee Punjabi and Zee were seen holding second position in their respective market, whereas Zee Tamil holds third...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/22/barc.jpg?itok=yD9J7pqX
Hindi news channels viewership increases by 14 per cent in week 6 of BARC

Delhi Legislative Assembly election has proved to be most fruitful for the news channels across genres. However, Hindi news broadcasters’ viewership has substantially grown by over 14 per cent in week six as compared to week five, according to the data published by Broadcast Audience Research...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/21/spsn.jpg?itok=km9a3_uY
SPSN partners with Social chain of restaurants as on-ground screening partner

MUMBAI: To provide a real-time drama to cricket fans, Sony Pictures Sports Network (SPSN) has partnered with Impresario Entertainment and Hospitality’s Social chain of restaurants across India to be its official on-ground screening partner for high-octane series between Australia and South Africa....

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/21/nippon.jpg?itok=bTxFlT2R
Nippon TV heads to Series Mania Forum with three new scripted formats

TOKYO: Nippon Television Network Corporation (Nippon TV), Japan’s leading multiplatform entertainment powerhouse, announced that the company has been officially invited by Laurence Herszberg, founder-general director of Series Mania, to be the first Japanese company to attend Series Mania Forum.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/21/Star%20Jalsha.jpg?itok=B40OnLQy
Star Jalsha celebrates 500 episodes of Irabotir Chupkotha

MUMBAI: Irabotir Chupkotha, one of Bengali television’s most popular shows, has recently completed 500 episodes. A unique plot coupled with a stellar cast can only result in a successful mega serial. Irabotir Chupkotha, produced by Acropolis Entertainment is a sparkling example of this instance....

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/21/Sunil_Shah.jpg?itok=sXFezqi1
B4Uelevates Sunil Shah as group MD B4U films

MUMBAI: B4U is in the midst of strong momentum. Along with the launch of new channels in the past year and the business plans in the works for the future, the network will experience new ways of working and few changes in organizational structuring at B4U, to continue this level of growth.

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/02/21/BARC_800.jpg?itok=PL0dZWf-
BARC week 6: Sony SAB slips down to fourth position on pay platform

MUMBAI: Sony SAB slipped to fourth position in week six of BARC India ratings. Last week, the channel was seen at third position. This week Zee TV held the third position moving up from fourth position. Colors continued to lead in urban market and pay platform. In urban market, Colors, Star Plus,...

Television TV Channels Viewership

Sign up for our Newsletter

subscribe for latest stories

* indicates required