News Corp. Investing $100 Million In TV Channels Across India
By David Kaplan - Mon 04 Aug 2008 08:15 AM PST
News Corp (NYSE: NWS). will spend $100 million to start six regional TV channels in India over the next year, WSJ reported. The channels will be part of News Corp.’s Star brand, which broadcasts more than 60 TV services in ten languages in 53 Asian countries. Speaking at a news conference for the launch of Dow Jones India Titans 30 Index, which tracks Indian stocks, News Corp. Chairman Rupert Murdoch said that he doesn’t expect to make any in similar investments in the country’s newspaper industry due to restrictions on foreign ownership that limit non-Indian companies to a 26 percent stake in a company. In the meantime, Murdoch plans to add 60- to 70 staffers to WSJ and Dow Jones Newswires in India over the next few months. About 25 are employed at those two entities in India right now.
