ABP Set To Buy Out Star Group's Stake In India TV Joint Venture MCCS - Report
April 02 2012 - 12:41AM
Dow Jones News
Indian media company ABP Pvt. Ltd. is set to buy out Star Group
Ltd.'s stake in news television joint venture Media Content and
Communications Services India Pvt. Ltd., the Business Standard
newspaper reported Monday, citing unnamed sources.
Formed in 2003, MCCS is a 74%-26% joint venture between ABP unit
Anandabazar Patrika TV and Star News Broadcasting, a unit of News
Corp.'s Star Group.
The company runs Hindi, Bengali and Marathi regional language
news channels.
A formal announcement could come as early as Monday, the report
said, adding that both Star India and ABP declined comment.
Dow Jones--publisher of this newswire and The Wall Street
Journal--is owned by News Corp., as is the Star Group.
Newspaper website: http://www.business-standard.com
--By New Delhi Bureau, Dow Jones Newswires; 91 11 4356 3300;
djn.in@dowjones.com