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STAR emphasises on capping FDI at 49% in DTH venture

27-October-2004
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STAR emphasises on capping FDI at 49% in DTH venture

STAR India is in favour of raising the foreign direct investment ceiling to 49 per cent, expressed STAR India chief executive Peter Mukerjea. With 20 per cent stake in a joint-venture project with Tata group for setting up a direct-to-home (DTH) platform, the media major is emphasising on the raised FDI level to ensure steady flow of funds.

“While we are happy with the Tatas, but what happens if tomorrow the funds are not available on a steady basis? I think, capping the FDI at 49 per cent is sensible,” said Mukerjea, who visited Kolkata to announce the launch of Star One on Tuesday.

With an investment figure coming close to the flagship channel STAR Plus, Star One is meant for the hep and happening upscale urban young crowd. With the new offshoot expected to hit the tube on November 1, STAR India is claiming to offer a complete spectrum of Hindi speaking audience to the advertisers.

Sharing on the promotional strategy with exhange4media on the sidelines of the press meet, Mukerjea said the channel was focussing heavily on media promotions for the newborn STAR baby. “We are mainly focussing on above-the-line initiatives but there have been regular on-ground promotional activities as well. We are also planning to associate with forthcoming cricket tournaments,” he informed.

Observing the Kolkata market as a crucial domain, Deepak Saigal, Head – Content Team, STAR India, said, “Despite repeated efforts we couldn’t get the best out of the Kolkata market as far as STAR Plus is concerned.” Perceiving a strong regional language programming bias among the Kolkata audience, he added, “It is very difficult to break away from the common general interest in regional language programming but we are hoping a better result with Star One as this will address the younger community and they are open to accept and analyse new ideas.”

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