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Star India acquires 26 per cent equity stake in RPG Netcom

25-April-2002
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Star India acquires 26 per cent equity stake in RPG Netcom

After Hathway, it is now the turn of RPG Netcom. Star India Pvt Ltd has bought a 26 per cent equity stake in RPG Netcom Ltd, the multisystem operator of the RP Goenka group that provides cable television feed to over 75 per cent of Kolkata cable-connected households. Star will pay around Rs 52 crore for the 26 per cent share of RPG Netcom.

Through its association with Hathway Cables, Star has been able to effectively implement its business strategy in Mumbai, Chennai and Bangalore. Now, with the stake in Netcom, Star will be able to push its business plans in Kolkata.

With a host of telecom operators wiring up the cities, the challenge for the broadcasters is to have a direct relationship with the customers. Both Star and Zee are trying to enter into a pact with the local MSO, either through a equity participation or through a strategic alliance, which will help the braodcasters to swiftly implement their business plans.

According to industry sources, Tony D’Silva, former head of Modi Entertainment Network (MEN) is tipped to join Star India as head of distribution. D’Silva is likely to take charge from Star’s senior vice-president A Javed who was looking after Star India distribution ever since Arun Mohan’s exit four months back.

Star India seems to be on a restructuring drive for its top management. D’Silva’s appointment comes close on the heels of Ravina Raj Kohli taking over as President for Star’s soon-to-be launched Hindi news channel.

Source: Financial Express

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