Top Story


Home >> Media - TV >> Article

Star Network sells entire 26% stake in Balaji Telefilms for Rs 108 crore

Font Size   16
Star Network sells entire 26% stake in Balaji Telefilms for Rs 108 crore

Star Network has sold its entire stake of 25.99 per cent in Balaji Telefilms through a block deal on Metropolitan Stock Exchange of India (MSEI) for price expected at Rs.108 crore. Exchange4media had confirmed this from a source in Balaji Telefilms. However, as to the buyer of the stake it is still unknown. We have not received a comment from Star India yet at the time of this being published.

The deal is said to be done at a discounted rate with average price of Rs.63.60 per share. The Ekta Kapoor headed company shares have increased by almost 20 per cent with 15.85 points rise.

Uday Shankar, CEO Star India, said, “This confirms Star’s exit of a minority stake of 25.99% in Balaji Telefilms. Axis capital acted as advisors to Star and also executed the on-market sale on August 5th 2015. This is in line with our strategy to focus on core businesses where Star has the ability to shape and scale the future growth path of its investments. Our programming and contractual relationships with Balaji are deep and we continue to work on strengthening them to our mutual benefit.”

Star India has been trying to offload its stake in Balaji Telefilms since 2008 when it started scouting for buyers. In 2014 there were media reports saying that an Anil Dhirubhai Ambani group, either Reliance Big Entertainment or Reliance Mediaworks, was to be a frontrunner to acquire the stake. It had first acquired 21% stake in Balaji Telefilms from the promoters at Rs.90 per share to a total amount of Rs.123 crore. It had subsequently increased its share to 25.9 per cent in the company. Star and Balaji Telefilms had enjoyed content exclusivity which was later on scrapped. According to media reports the relationship between the two companies went bad after intense competition from other production houses overthrew the rating of Balaji’s shows. 


Vinik Karnik, Business Head - ESP Properties, talked about what went into conceptualising the first edition of the entertainment marketing report, Showbiz

Rahul Jhamb, Brand Head, Forever 21, on how the fast fashion brand always stays on the pulse of latest marketing trends

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

Heavy spends on OOH and print sum up this year’s ad spends of YLG Salon

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.