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Its showtime: Star TV plans public issue - Views on News from Equitymaster
 
 
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  • Feb 19, 2000

    Its showtime: Star TV plans public issue

    The Hong Kong based Star TV is planning an IPO in the third quarter of the current year abroad followed by a similar move by its Indian subsidiary.

    The last year was a momentous one for the Star TV group in India as it snapped ties with the Zee group which restricted its local language content (Hindi programmes) to 50% of its programming. The company now plans to aggressively launch local language programming which the company hopes will lead to a consumer pull for its content and spread its reach to the mini metros as well as the smaller towns.

    Similarly, the price at which the company parted ways with the Zee group by selling its stake in the ATL, a 50:50 broadcasting company enabled Star to write off its entire accumulated losses in India over the past seven years.

    A public issue at the current time when the markets are hungry for media stocks would not only enable the company to get a very good valuation for the company but also help provide the company to buy up content (such as blockbuster Hindi movies) or bid for satellite rights for cricket matches.

    It would also help the company position itself for Direct to Home TV as and when the permission is granted by the government. Most important however, would be the fact that it would enable the company to become an Indian company (with a substantial Indian holding) which could help the company skirt any possible forthcoming restriction imposed in foreign broadcasters from uplinking from India.

     

     

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