Balaji in talks with investors to buy Star's stake:Report

Television content provider Balaji Telefilms Ltd is in talks with a consortium of investors to buy the 25.99 percent stake held by a unit of Rupert Murdoch's Star group, a newpaper reported on Tuesday.

The stake is owned by Dubai-based Asian Broadcasting FZ-LLC and was bought for 1.23 billion rupees in 2004, the paper said. Balaji will float another joint venture company with these investors to launch a bouquet of regional television channels, the paper said.

While Star was "very close" to ending its relationship with Balaji, the formalities were yet to be completed, the paper cited an unnamed official as saying. On Monday, News Corp chief Rupert Murdoch said the US media conglomerate plans to invest $100 million in six regional language channels in India, where it is a leading broadcaster.

Officials at Balaji Telefilms could not be immediately reached for comment. Murdoch on Monday declined to comment on speculation Star and Balaji were ending their venture.

NBC picks 26% stake in NDTV Networks

In order to expand its presence in the television entertainment space, Delhi-based news broadcaster NDTV has sold 26% stake in NDTV Networks to NBC Universal, leading international media and entertainment company, for $150 million (around Rs 580 crore).

As per the agreement with NDTV, NBC Universal can increase its stake to 50% in NDTV Networks by 2010.Last year, private equity investors had bought a 24% stake in NDTV Networks for about $120 million (around Rs 470 crores).(Related Story)

Through this association, NDTV will gain access to various television formats including talk shows of NBC Universal. Both companies will soon inititiate dialogues over the exchange of programming formats and shows.

Read more in The Business Standard article.

NDTV may sell 26% ent venture stake to NBC

Media conglomerate NDTV is understood to be in talks with US entertainment major NBC universal for selling 26% stake in its upcoming entertainment business.NDTV Entertainment is a 100% subsidiary of Prannoy Roy promoted New Delhi Television (NDTV) and could be valued at up to $500 million (over Rs 2,000 crore). It is likely to launch its entertainment channel soon.

NDTV and NBC, a venture of GE Group, are understood to have signed a preliminary agreement or term sheet last week for the purpose but the value for the proposed transaction could not be ascertained.

The group would launch three channels under its entertainment venture - NDTV Imagine. First, general entertainment channel in Hindi is expected by the end of this year or early 2008.

NDTV had recently got approval from the Foreign Investment Promotion Board (FIPB) for foreign investment to the tune of Rs 585 crore for its foray into entertainment and lifestyle space.Most of this investment (from Rs 585 crore) will be into NDTV Imagine, the officials had said.

Bennet & Coleman picks up 5% in YOU Telecom

Media house Bennet & Coleman has picked up 5 per cent stake in broadband company YOU Telecom India Pvt Ltd.
YOU Telecom is an investee company of Citigroup Venture Capital International Growth Partnership Mauritius Ltd.
Citigroup Venture Capital International Director PR Srinivasan said: "YOU Telecom is in the process of building the 'YOU' brand. Bennet & Coleman can add tremendous value to the YOU's branding efforts."
YOU Telecom, previously known as Iqara Telecoms, was promoted by British Gas. Citigroup Venture purchased Iqara Telecom in June 2006 in colloboration with Mike Kazma of Amzak International, a Latin American network operator.