With just six days to go for meeting the new uplinking guidelines, Rupert Murdoch's STAR TV on Monday submitted a fresh application to the government for STAR News following its joint venture with the Anand Bazaar Publication Group.
Kolkata-based ABP Group will have a majority stake (74 per cent) in Media Content and Communication Services (MCCS), which will run STAR News.
ABP's Aveek Sarkar will be the chairman and STAR TV's Peter Mukerjea the director of MCCS. Its eight-member board includes Aroop Sarkar, Aniruddha Lahiri, Naresh Chandra, S Nihal Singh and G Subramaniam.
Sarkar and Mukerjea submitted the revised application to the Information and Broadcasting Ministry and also met I&B Minister Ravi Shankar Prasad. The application shows a paid up capital as of now of Rs 100,000, with an authorised share capital of Rs 70 crore (Rs 45.8=1$) and a proposed paid up capital of Rs 62.5 crore.
The government is expected to take some time to clear/reject the proposal, as the home ministry too will examine it. However, the government is not expected to stop the channel from functioning till then.
The fresh application follows the government's decision to tighten uplinking guidelines and stipulate that an Indian entity hold at least 51 per cent of the equity. Expressing apprehension about proxy editorial control in STAR's earlier application, the government had given STAR News one month to meet the new guidelines.
Ravina Raj Kohli will continue as the president and Sanjay Pugalia as news director of the channel. An agreement to this effect was signed between the parties in Mumbai last week.
