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FIPB approves Idea, Star Den proposals; defers Flag, Axel Springer proposals

The Foreign Investment Promotion Board (FIPB), has cleared proposals of two digital businesses: Idea Cellular's wholly owned subsidiary Idea Cellular Infrastructure Services Ltd (ICISL) has become a foreign owned company, with more than 50% foreign investment: the FIPB has taken this on record, and allowed foreign investment in it up to 67.5%. Star Den Media Services Private Limited has been allowed to to discontinue "its current business of providing support services to broadcasters in relation to TV channel distribution business, and thus (B) continue to act only as investing company." It's not clear what this investing company will do, but STAR Den is now entirely owned by Star: In March 2016, Star had bought out the stake in the JV with Den Networks for Rs 40.35 crore. Star Den was 50:50 joint venture between the two companies - Star which is a news corp owned entity, and Den, which is a listed company - which operated as a content aggregator, leveraging Den's distribution network. When launched in 2008, the JV had intended to distribute content through cable, DTH, IPTV, HITS, MMDS, and more modes of distribution. The 2014 TRAI's cable TV aggregator guidelines upended the entire TV aggregator business. It has, however, deferred others: Internet backbone provider Flag Telecom (Flag Telecom Singapore Pte Limited), a subsidiary of Reliance Communications (RCOM), India has sought approval to acquire 100% shares of M/s Reliance Global Cloud Xchange Limited, which has been recently incorporated in June 2016 by Indian residents. Crest Premedia Solutions Pvt. Ltd. (CPSPL) has…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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