Television

Star India paid $160 mn for added 12% interest in Asianet Communications

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2014/03/11/Asianet.jpg?itok=gE_0LmeG

MUMBAI:  Star India’s equity interest in Asianet Communications in June 2013 increased by 12 per cent to 87 per cent from the earlier 75 percent. The price the India subsidiary of 21st Century Fox paid for the additional interest in the south Indian general entertainment television network was approximately $160 million.

The price paid by Star India for the additional interest values Asianet Communications at $1.33 billion.

According to 21st Century Fox, in June 2013, it acquired the 19 per cent stake in Vijay Television that it didn’t own and, as a result, it now owns 87 per cent interest in Asianet Communications.

Star India holds its interest in Asianet Communications through Vijay Television. The 19 per cent equity stake in Vijay Television that it bought in June 2013 was held by Rajeev Chandrasekhar and K Madhavan.

In January 2009, Star India and Asianet TV Holdings formed a venture Star Jupiter and the Asianet Communication’s general entertainment channels were brought under the joint venture. Star India’s Tamil channel, Star Vijay was also consolidated with the Asianet channels but the shareholding structure of Asianet Communications is not clearly known as it is a closely held company.

In 2009, Star India paid approximately $235 million in cash and assumed net debt of approximately $20 million for a controlling interest in the four channels owned by Asianet. The price Star India paid for the 51 per cent stake in 2009 meant Asianet Communications was then valued at $500 million.

Asianet Communications broadcasts Malayalam language channels Asianet and Asianet Plus, Kannada language channel Suvarna and Telugu channel Sitara.

In July 2010, Star India increased its stake in Asianet communications to 75 per cent from 51 per cent, for which it paid approximately $90 million in cash.

Asianet Communications was founded in 1991 by Reju Menon and Shashi Kumar. Rajeev Chandrasekhar acquired a 51 per cent stake in the company in 2006 for a reported price of Rs 150 crore (about $25 million at the current exchange rate) and also became its chairman.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/zee.jpg?itok=7o997z2i
Zeel acquires media rights for Emirates Cricket Board’s UAE T20 League

Zee Entertainment Enterprises Ltd (Zeel) has signed a 10-year media rights deal with Emirates Cricket Board (ECB) for their upcoming UAE T20 League. The broadcaster makes its return into sports broadcasting after its non-compete agreement with Sony Pictures Networks (SPN) India expired.

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/30/star.jpg?itok=27CMzNn_
Star and Disney India postpones new channel launches till further intimation

Star and Disney India has deferred the launch of 15 (SD+HD) channels and renaming of one channel until further intimation. “This is to inform all distributors of television channels that the launch of following 15 channels and name change of following one channel have been deferred till further...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/news18-india.jpg?itok=1pS1uLwW
News18 India to host ‘News18 India Chaupal’ on 1-2 December

News18 India to set to host "News18 India Chaupal – Desh Ka Sabse Bada Manch" on 1-2 December. The event will be telecasted on News18 India channel from 6 p.m onwards on 1 December and 11 a.m onwards on 2 December.

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/star-sports.jpg?itok=XO0O3ENp
India vs New Zealand opening T20 match garners 73 million reach

The opening match between India and New Zealand, in the T20 international series that began on 17 November, garnered a reach of 73 million (2+U+R) becoming the most-watched T20 opening match in the last three years.

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/zee-1.jpg?itok=ENNZJsip
Zeel-Invesco case: Bombay HC to continue hearing on 30 Nov

At the Zeel-Invesco hearing held on Monday, the division bench of the Bombay high court decided to continue the hearing on 30 November. On 29 October, the court had granted a temporary injunction against the requisition notice by Invesco.

Television TV Channels GECs
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/29/think.jpg?itok=WeqZaYMX
Believe buys out Think Music to boost South India position

Mumbai: Digital music company Believe has acquired Think Music, a South India-based music label. With this acquisition, the company wants to further strengthen its position in South India. “The acquisition will help Think Music accelerate the growth and monetisation of its whole catalogue by...

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/27/hul.jpg?itok=I64gNkoD
HUL top advertiser in week 46: Barc

FMCG firms beginning with Hindustan Lever Ltd dominated the top-10 advertiser list in week 46 (13 to 19 November) according to Broadcast Audience Research Council (Barc) data. Recorded ad volumes for the company stood at 4486.09 (‘000s). Reckitt Benckiser (India) Ltd was second at 3462.72 (‘000s).

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/27/star-plus.jpg?itok=LNOjGhK6
Star Plus regains top spot in week 46: Barc

Star Plus regained the top spot after a gap of two weeks as per Broadcast Audience Research Council (Barc) data for week 46 (13 to 19 November). The channel garnered weekly AMAs of 2726.35 (‘000s).

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/11/27/77.jpg?itok=OllFX0Pz
Times Now, Mirror Now to air docu-series on formation of Bangladesh

Times Chronicles, the content studio from Times Network has launched "1971 Birth of a Nation," a documentary series on India post-independence. The seven-part docu-series will begin airing on 27 November on Times Now and Times Now World starting at 6 p.m and Mirror Now starting at 7:30 p.m.

Television TV Channels Viewership

Sign up for our Newsletter

subscribe for latest stories

* indicates required