Top Story


Home >> Media - TV >> Article

DEN Networks to sell its stake in Star-Den joint venture for Rs 40.35 crore

Font Size   16
DEN Networks to sell its stake in Star-Den joint venture for Rs 40.35 crore

DEN Networks on Wednesday said that it will be selling its 50:50 joint venture (JV) with Star India for Rs 40.35 crore. It must be mentioned that Star India and DEN had announced a joint venture in January 2008 to create a platform for distributing television channels in India through fixed networks.

The  aim of this joint venture was to distribute the channels through cable, direct-to-home (DTH), internet protocol TV (IPTV), hypertext-induced topic selection (HITS) and multi-channel multi-point distribution service (MMDS).

In its filing to the BSE, DEN Networks said, "DEN Networks has entered into a share purchase agreement with Star India and Star Den for selling off its entire 50 per cent equity stake held in Star Den for a consideration of Rs 40.35 crore. Upon completion of the said share transfer to Star India, Den shall cease to be a shareholder in Star Den and the joint venture agreement executed among the parties shall stand terminated.”

Tags Den IPTV Star

Abhishek Punia, Co-founder and COO of ARM Worldwide, tells about how they re-branded themselves from ARM Digital to ARM Worldwide and in the process marked their presence globally

Srinivasan opens up on what prompted their recent rebrand, their foray into bus depots and developing the software that displays Bengaluru Metropolitan Transport Corporation's (BMTC) Passenger Information System for all the major bus depots in Bangalore.

Software and Technology, Consulting, Healthcare seem to be increasingly using Webinars to engage with their clients and employees

Chandy indulges in his love for reading and learning something new over the weekends

Though revenue from media operations grew by 10.6% yoy to Rs 760.8cr, the film production revenue declined by 18.0% yoy

At the inaugural one-on-one session between Aroon Purie, Chairman & Editor-in-chief of India Today Group and Anurag Batra, Chairman & Editor-in-chief BW Businessworld & Exchage4media Group, Purie spok...

At the 11th Indian Magazine Congress in New Delhi Rajdeep Sardesai, Consulting Editor, India Today, remembered the time when he used to work for Times of India