News Corp Owned STAR Star In Talks With UB Group For Print Foray: Report
By Nikhil Pahwa - Mon 28 Apr 2008 02:45 AM PST
STAR India, a wholly owned subsidiary of STAR Hong Kong, and a News Corp company is currently seeking a joint venture in India for a print media foray. Business Standard reports that the company has been in talks with the UB Group. STAR has declined to comment, while the UB Group has denied the news.
News Corp (NYSE: NWS). entry into the news and current affairs space in India is limited by the 26 percent foreign direct investment limit, though non-news publications can have 100 percent FDI. We’d earlier written about 172 magazines being given the approval to launch in India. Newscorp, though, has a far bigger portfolio of newspapers than magazines.
Posted in: JV & Investment, Newspapers
