News Corp to launch six regional channels in India, plans $100 mn investment
4 August 2008
MUMBAI: News Corp. plans to invest $100 million to launch six regional language television channels in India, chairman Rupert Murdoch told reporters here today.
The channels will be under the Star brand and will be launched within 12 months, Murdoch said.
Indiantelevision.com had earlier reported that Star would be launching general entertainment channels in Bengali, Gujarati, Marathi and Telugu languages.
Murdoch said News Corp. is not eyeing stakes in any Indian newspaper as it is not comfortable being a minority stakeholder. "We don't see us taking stakes in any Indian newspaper.” For newspapers, the government has fixed a 26 per cent FDI (foreign direct investment) cap.
Adding further, Murdoch said the arrival and development of the Internet will make investment restrictions in the newspaper business redundant.
Murdoch today launched the Dow Jones India Titans 30 Index to gauge the performance of leading Indian stocks.
Dow Jones Newswires' editorial staff in India will be more than doubled to 60 to 70 from the current 25 over the next six months, Murdoch added.
Await a detailed report....
Indiantelevision.com > News Headlines > News Corp to launch six regional channels in India, plans $100 mn investment
4 August 2008
MUMBAI: News Corp. plans to invest $100 million to launch six regional language television channels in India, chairman Rupert Murdoch told reporters here today.
The channels will be under the Star brand and will be launched within 12 months, Murdoch said.
Indiantelevision.com had earlier reported that Star would be launching general entertainment channels in Bengali, Gujarati, Marathi and Telugu languages.
Murdoch said News Corp. is not eyeing stakes in any Indian newspaper as it is not comfortable being a minority stakeholder. "We don't see us taking stakes in any Indian newspaper.” For newspapers, the government has fixed a 26 per cent FDI (foreign direct investment) cap.
Adding further, Murdoch said the arrival and development of the Internet will make investment restrictions in the newspaper business redundant.
Murdoch today launched the Dow Jones India Titans 30 Index to gauge the performance of leading Indian stocks.
Dow Jones Newswires' editorial staff in India will be more than doubled to 60 to 70 from the current 25 over the next six months, Murdoch added.
Await a detailed report....
Indiantelevision.com > News Headlines > News Corp to launch six regional channels in India, plans $100 mn investment