New Delhi: The government is said to have cleared the decks for leading broadcaster Star India to not only increase its stake in direct-to-home (DTH) venture Tata Sky but also pump over Rs 320 crore into the company. This may well be the single-largest investments in the media sector in last one year.
Tata Sky is currently the third-largest DTH operator with over 5 million subscriber base and is looking for investments to take on competition in a six-player, 24 million DTH subscriber market. Tata Sky is a joint venture between Star and Tata Sons. After this move, the stake of Tata group will come down from the current 70% to 50% while that of Star will go up effectively to 30%.
Star gets nod to raise stake in Tata Sky
Tata Sky is currently the third-largest DTH operator with over 5 million subscriber base and is looking for investments to take on competition in a six-player, 24 million DTH subscriber market. Tata Sky is a joint venture between Star and Tata Sons. After this move, the stake of Tata group will come down from the current 70% to 50% while that of Star will go up effectively to 30%.
Star gets nod to raise stake in Tata Sky
