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Murdochs to host PM Modi during his New York trip later this week

24-September-2015
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Murdochs to host PM Modi during his New York trip later this week

PM Narendra Modi will be hosted by 21st Century Fox’s Rupert Murdoch and his son James Murdoch, according to a report in Hollywood Reporter. It is likely that Star India CEO Uday Shankar will also be a part of the meeting. PM Modi’s tour starts today.

Earlier in the month of March, James Murdoch who is now CEO of 21st Century Fox had paid a visit to PM Modi with Uday Shankar.

It is unclear as to what topics will be addressed in the meeting, however it has been known that Star India has a major role to play in Fox’s international growth.

Star India is on course to meet its $500 million EBIDTA target by 2018 according to the latest comments by parent company 21st Century Fox’s Chief Financial Officer, John Nallen. Speaking at the 2015 Media, Communication & Entertainment Conference in Beverly Hills California he said that he was fully confident of the target being achieved by the company set for 2018. 

Morgan Stanley values Star TV at $11.2 billion. In a report, Morgan Stanley estimated the fair market value of STAR TV on the basis of rising ad revenue from India and said the firm contributed 11.3 per cent to the overall fair market value of its American parent. This comes amid slowing ad revenue for the media giant from developed markets.

PM Modi will be attending Facebook’s Townhall meeting at its headquarters upon being invited by Mark Zuckerberg. PM Modi said on his Facebook page, “I thank Mr. Mark Zuckerberg for the invite to visit the Facebook HQ. The interaction will cover a wide range of issues and will surely be a memorable one.”

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