Anandabazar Patrika eyeing stake in STAR's JV: report

Media group Anandabazar Patrika aims to buy out STAR Group’s 26 percent stake in their Indian television joint venture, the Business Standard reported on Monday.

The group is parting ways with the Rupert Murdoch-controlled television group after months of discontent over editorial and other strategic issues, the newspaper said, citing an unnamed official involved in the negotiations.

“It’s final now. The two legal teams are working out the details and the fine print will be clear very soon,” it quoted the official as saying.

[caption id=“attachment_262857” align=“alignleft” width=“380” caption=“The group is parting ways with the Rupert Murdoch-controlled television group after months of discontent over editorial and other strategic issues. Reuters”]  [/caption]

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Dipankar Das Purkayastha, managing director of Anandabazaar Patrika, denied any such plans, the paper said.

Media Content & Communications Services India Pvt Ltd, the joint venture, runs three news channels in India - STAR News in Hindi, STAR Ananda in Bengali and STAR Majha in Marathi.

“This is a closely held joint venture. I am not going to comment on market speculation,” the paper quoted Uday Shankar, chief executive of STAR India Pvt Ltd, as saying.

Reuters could not immediately reach company officials for comment.

Reuters