Star India, 21st Century Fox’s wholly-owned subsidiary, has completed the acquisition of its successful and profitable regional entertainment network Asianet Communications. Star has made the residuary 13 per cent stake acquisition for approximately $50 million in the fourth quarter of the fiscal ended 30 June 2014. Paid in cash, the new transaction values Asianet at $384.61 million. Asianet runs Malayalam- and Kannada-language channels. Asianet and Suvarna are leaders in the Kerala and Karnataka market respectively. Star also runs Tamil general entertainment channel Vijay TV. The transactions were accounted for as the purchase of subsidiary shares from non-controlling interests
Read more at: http://www.televisionpost.com/television/star-india-completes-asianet-takeover-acquires-remaining-13-stake-for-50-mn/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/television/star-india-completes-asianet-takeover-acquires-remaining-13-stake-for-50-mn/ | TelevisionPost.com
