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MUMBAI/BANGALORE: Media tycoon Rupert Murdoch’s visit to India may soon lead to a slew of changes within STAR India. Mr Murdoch is believed to have cleared the decks for an alliance with the Rajeev Chandrasekhar-led Asianet Entertainment.
Sources said that STAR is expected to acquire a majority stake in Asianet’s general entertainment channels across three southern languages, Malayalam, Telugu and Kannada. The move is in tandem with STAR’s plans in the regional space, and the deal is expected to be sealed in the coming weeks.
The deal with Asianet will only fructify after STAR exits Balaji Telefilms. STAR currently holds over 25% stake in Balaji. Last year, STAR entered into a JV with Balaji Telefilms to come up with general entertainment channels in southern languages. However, STAR’s relationship seems to have gone sour and Balaji Telefilms is in talks with several PE players.
STAR India officials were unavailable for comment. Asianet spokesperson told ET: “Asianet has been talking to several potential partners and STAR is one of them. However, we would not like to comment on market speculation at this point in time.”
Rupert Murdoch set to acquire majority stake in Asianet- Media-Media / Entertainment -News By Industry-News-The Economic Times
Sources said that STAR is expected to acquire a majority stake in Asianet’s general entertainment channels across three southern languages, Malayalam, Telugu and Kannada. The move is in tandem with STAR’s plans in the regional space, and the deal is expected to be sealed in the coming weeks.
The deal with Asianet will only fructify after STAR exits Balaji Telefilms. STAR currently holds over 25% stake in Balaji. Last year, STAR entered into a JV with Balaji Telefilms to come up with general entertainment channels in southern languages. However, STAR’s relationship seems to have gone sour and Balaji Telefilms is in talks with several PE players.
STAR India officials were unavailable for comment. Asianet spokesperson told ET: “Asianet has been talking to several potential partners and STAR is one of them. However, we would not like to comment on market speculation at this point in time.”
Rupert Murdoch set to acquire majority stake in Asianet- Media-Media / Entertainment -News By Industry-News-The Economic Times
