Top Story

e4m_logo.png

Home >> Media – Print >> Article

Government may allot golden share to print media promoters

13-September-2002
Font Size   16
Government may allot golden share to print media promoters

The government is considering the option of allotting a golden share to the promoters of domestic print media companies in order to ensure their absolute control, in spite of a 26 per cent foreign holding.

According sources a 26 per cent stake in an Indian print media company can give a foreign investor the power to block all special resolutions moved by the company’s board of directors, according to the Companies Act. A golden share will come with special powers to steam roll any such opposition from the foreign stakeholder.

This option, along with other alternatives, was discussed on Wednesday at a meeting convened by the information & broadcasting secretary, Pawan Chopra, to work out the guidelines to permit foreign direct investment (FDI) in Indian print media companies in the field of news and current affairs.

Another option discussed at the meeting was the mandatory inclusion of a clause in the joint venture agreement between an Indian company and its foreign partner that would ensure operational as well as editorial control in Indian hands.

The government is also considering to amend the articles of association of companies to the effect that the ownership and management control would remain with the Indian shareholders. A final decision is yet to be taken.

According to sources the guidelines to govern FDI in print would be finalised in the next one month. The government has also set up an inter-ministerial group to finalise the guidelines.

Tags

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

Strategized and executed by WATConsult, the campaign portrays different personalities through different shades of make-up.

At the recent unveiling of the Pitch Madison Advertising Report 2018, industry leaders from Dominos, Titan Watches, Nature’s Basket and Big Bazaar drew their conceptual learnings on factors that build...

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.