Star India has received permission for investing Rs 2500 crore in foreign direct investment in expanding its growth in the country. The approval by the Foreign Investments Promotion Board (FIPB) includes acquisition of the broadcasting business of Maa TV - engaged in broadcasting sector on a slump sale basis.
A source in Star India told Indiantelevision.com that this meant acquisition of software and liabilities of Maa TV and not a take-over of the company.
As was reported by this website earlier in February, Star India said it will acquire Maa Television Network’s four Telugu channels namely Maa TV, Maa Movies, Maa Music and Maa Gold. “Star will acquire all assets of Maa TV including broadcasting rights subject to regulatory approvals. After the approvals, Maa TV will become part of Star network. We do not have any Telugu channel in our portfolio,” Star India CEO Uday Shankar had then said.
Indian Television Dot Com | Star India gets FIPB nod for Maa TV investment; Jhakaas & Eros proposals deferred
A source in Star India told Indiantelevision.com that this meant acquisition of software and liabilities of Maa TV and not a take-over of the company.
As was reported by this website earlier in February, Star India said it will acquire Maa Television Network’s four Telugu channels namely Maa TV, Maa Movies, Maa Music and Maa Gold. “Star will acquire all assets of Maa TV including broadcasting rights subject to regulatory approvals. After the approvals, Maa TV will become part of Star network. We do not have any Telugu channel in our portfolio,” Star India CEO Uday Shankar had then said.
Indian Television Dot Com | Star India gets FIPB nod for Maa TV investment; Jhakaas & Eros proposals deferred
