International Star picks majority stake in Vijay TV

Star picks majority stake in Vijay TV

Author | NULL | Monday, Jan 01,1900 7:35 AM

Star picks majority stake in Vijay TV

Star Group has picked up a majority stake in Vijay Television Limited. Star group will hold 51 per cent and UTV Software Communication the rest. This was announced at a joint press conference held on Thursday. Both the company officials were tightlipped on the financial aspects of the deal.

Vijay Television Ltd. will focus on content, distribution, sales and marketing. The broadcasting will be undertaken by Vijay Broadcasting Ltd. UTV will match the investments by Star in future in Vijay Television and the holding pattern of Vijay Television is likely to remain unchanged.

Vijay TV chief executive officer Rohit Adya will move to UTV and Star India general manager, regional channels, Ajay Vidyasagar, will take charge at Vijay TV.

Star will work on improving the programming, airtime sales and marketing, ground distribution and connectivity. The current arrangement for news programmes from NDTV will continue and there are no plans for a separate news channel in Tamil.

Vijay TV’s current market share of advertising revenues in state stands at 12 per cent and Star expects to increase it by 3 to 5 per cent each year.

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