http://www.business-standard.com/india/storypage.php?tp=on&autono=44594
Rupert Murdoch might divest from some India businesses Bs Reporter / New Delhi August 12, 2008, 18:42 IST NewsCorp chairman Rupert Murdoch, said that he might look at divesting from some of the businesses in the country. The the world's109th richest man who is worth $8.3 billion —according to 2008 Forbes 400--who had announced a US $ 100 million investment during his recent visit to India In a conference call with investors a few days ago Murdoch when asked whether he would make further investments in existing properties in India said, "No, in fact, we're looking at a couple of small divestment at the moment, which would probably pay for anything like that. But we'll be opportunistic if things turn up that can't be resisted but we don't see very much at the moment." Murdoch holds investments across media and entertainment businesses in India, which include news broadcasting venture, direct-to-home business, cable company and television production companies. Star Group formed a 20:80 joint venture with the Tatas to enter the direct-to-home business, while it holds 26 per cent in Raheja Group's multi-system operator company Hathway Cable. In 2003 Murdoch formed a joint venture --Media Content and Communications Services India--with Ananda Bazaar Patrika to launch regional news channel, in which Star holds only 26 per cent while the rest is controlled by the Indian publishing group. The joint venture operates Hindi news channel Star News, Marathi news channel Star Majha and Bengali news channel Star Ananda. Meanwhile, it is clear that Star wants to exit its 26 per cent stake--that it holds through Asian Broadcasting-- in television production company Balaji Telefilms. Consequently, Star-Balaji's joint venture formed last year to launch regional entertainment channels has been aborted. However, nothing has been made official yet. ------------------------------------ -- INFORMATION OVERLOAD? Get all ZESTMedia mails sent out in a span of 24 hours in a single mail. Subscribe to the daily digest version by sending a blank mail to [EMAIL PROTECTED], OR, if you have a Yahoo! Id, change your settings at http://groups.yahoo.com/group/ZESTMedia/join/ PARTICIPATE Share media news, discuss journalism issues and network with media professionals across South Asia on this mailing list. Just write to [email protected] TELL FRIENDS TO SIGN UP If you got this mail as a forward, subscribe to ZESTMedia by sending a blank mail to [EMAIL PROTECTED] OR, if you have a Yahoo! ID, by visiting http://groups.yahoo.com/group/ZESTMedia/join/ Also have a look at our sister list, ZESTCaste: http://groups.yahoo.com/group/ZESTCaste/Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ZESTMedia/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/ZESTMedia/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
