BUSINESS

Star-Tata DTH JV in limbo

Source:PTI
March 16, 2005 17:09 IST

Ahead of India visit of News Corp chief Rupert Murdoch, the proposal for the direct-to-home venture by Star is shuttling between ministries raising doubts whether the Rs 1,600 crore (Rs 16 billion) project would be cleared in the near future.

Information and broadcasting ministry referred the DTH proposal through a joint venture, in which Murdoch's Star has 20 per cent equity against 80 per cent stake of the Tatas, to company affairs ministry last week to check if the JV was in conformity with the guidelines.

Murdoch is arriving in Mumbai by the end of the week on a five-day visit and is expected to review the group operations including the progress on the DTH venture, hanging fire for over a year.

During his visit, Murdoch is expected to call on Congress President and United Progressive Alliance chairperson Sonia Gandhi, Prime Minister Manmohan Singh, Finance Minister P Chidambaram, I & B Minister Jaipal Reddy, Bharatiya Janata Party leader L K Advani, and Ratan Tata.

Star spokesperson Nitin Atroley did not give details of Murdoch's programme. He also did not comment on the status of the DTH venture.
Source: PTI
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