Top Story


Home >> Digital >> Article

Murdoch to sell hughes stake to FIIs

Font Size   16
Murdoch to sell hughes stake to FIIs

Rupert Murdoch promoted NewsCorp is planning to sell its 55 per cent stake in Hughes Software Systems (HSS) to some foreign institutional investors (FIIs). While markets have been talking of TCS being a likely buyer, according to reliable sources, the NewsCorp is not interested in selling its stake to any IT companies but to FIIs, who are expected to pay better prices. When contacted, TCS spokespersons declined to comment. Arun Kumar, CEO of HSS also declined to comment. Just three days back, Mr Murdoch sold 80.5 per cent of his stake in Panamsat, a satellite network, to a private equity group for $3.5 billion, said sources, pointing out that sale to equity investors was preferred strategy over selling to strategic corporate investors.

As part of its global acquisition of Hughes in the US in 2003 for $6.6 billion, NewsCorp acquired 55.4 per cent stake in HSS. As telecom and software services is not complementary to the business of NewsCorp, it is looking to sell off its stake in order to concentrate in its core business.


Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Launches third phase of TVC campaign ‘Think it. Done’

Based in Mumbai, Usha has nearly two decades of experience in the Indian media and entertainment sector and will serve as a strategic advisor to H+K’s diverse portfolio of clients with a special empha...

Report based on media channel data in 96 countries and detailed findings from the world‘s key ad markets, which between them account for approximately two-thirds of the value of global advertising tra...