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TV Roundup: NDTV-Hindu JV, STAR-Balaji Split

So it’s Official: BSE listed Balaji Telefilms has informed the exchange that their agreements with STAR for a Joint Venture for regional TV channels is being terminated. Also, Balaji promoters will be buying back STARs stake in Balaji Telefilms for Rs. 190 per share. STAR had acquired 25.99% equity interest in Balaji Telefilms in August 2004. Importantly for Balaji, their contract with STAR is being modified to allow them to work with other broadcasters during prime time.
Related Story: Murdoch India Trip: FDI Limit; DJ Index, $100 Million In TV; AsiaNet, Balaji, Sakaal

Meanwhile, NDTV Ltd and the Hindu Group are forming a joint venture which will launch a Chennai focused TV Channel, reports Indiantelevision.com . NDTV will hold 51 percent stake in the channel, while the Hindu will hold a 49 percent stake. The channel will be a part of NDTVs city-focused bouquet of channels, and will be called MetroNation Chennai.

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