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Murdoch Jr. to push for more foreign equity in DTH

21-November-2000
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Murdoch Jr. to push for more foreign equity in DTH

Mr. James Murdoch, is on his India trip to lobby with the government to increase the foreign equity participation in the direct to home (DTH) television service.

The government earlier announced its DTH policy which has capped the foreign direct investment at 20 per cent. However, the limit for the total foreign investment including that of NRIs, OCBs and FIIs pegged at 49 per cent. At the same time to safeguard against the monopoly, the government had further said that no individual company will own more than 20 per cent of the paid up capital of a DTH company.

As Star TV is one of the major DTH players in the world, the restriction on holdings in its Indian subsidiary may create problem for the company. The company is arguing that the present policy is full of flaws as it would require more than five players to start the company.

Moreover, as huge investment to the tune of Rs 400 crore would be required to start the venture, they argue that it would be difficult to find such partners who could bring that kind of funds to form the company.

Murdoch will be meeting senior government officials today for further deliberation on DTH related matters.

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