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Star TV Network mulls public issue - Views on News from Equitymaster
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  • Nov 17, 1999

    Star TV Network mulls public issue

    The Star TV network is working on a restructuring plan to give more autonomy to its Indian operations. It is also mulling a public issue in a year's time after the restructuring is complete.

    The Rupert Murdoch controlled Star Network beams over 10 satellite television channels in India, which includes Star Plus, Star News, Star World, Star Movies, Channel V, BBC, ESPN and a host of other channels.

    After parting ways with Zee, India seems to have been identified as a future growth area by Mr Murdoch. Hence, Star has announced a number of plans that include launch of a Hindi film channel, forays in film production, satellite and FM radio broadcasting, Internet and regional language news in association with Star News. It will probably part fund all these through the money it has received from Zee (approximately Rs 6.5 bn).

    The satellite TV segment is currently dominated by Zee and Sony, but Star hopes to gain the early bird advantage in the direct to home (DTH) segment. Zee is currently working overtime to build its portfolio of channels to match that of Star. Star will need funds to fight off Zee, and hence, the public issue plan. Also, the company will receive attractive valuations going by the current trends of listed media companies like Zee and Sri Adhikari Brothers. 0 5537 30943 26785



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