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Tara looking for investors, not buyers: Rathikant Basu

06-April-2001
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Tara looking for investors, not buyers: Rathikant Basu

Broadcast Worldwide, which runs the Tara (Television Aimed at Regional Audiences) group of regional channels, has scotched market rumours that it is up for sale. Rather, it claims it is in talks with several companies for alliances which will bring in fresh investments.

Mr Rathikant Basu, promoter of Broadcast Worldwide, said that Broadcast Worldwide is talking to companies for the purpose of strategic funding, and not for its outright sale.This is in sharp contrast to the industry buzz that Sony Entertainment Television (SET) is interested in buying Mr Basu’s network.

According to Mr Basu ‘‘The shareholders of Broadcast Worldwide are not keen to sell the company.’’ The shareholders of Broadcast Worldwide include promoter Rathikant Basu and associates, Sterling Infotech, Rupert Murdoch’s Star and financial institutions Unit Trust of India and Industrial Development Bank of India.

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