Star India paid $160 mn for added 12% interest in Asianet Communications

[Deepu]

Star India’s equity interest in Asianet Communications in June 2013 increased by 12 per cent to 87 per cent from the earlier 75 percent. The price the India subsidiary of 21st Century Fox paid for the additional interest in the south Indian general entertainment television network was approximately $160 million.

The price paid by Star India for the additional interest values Asianet Communications at $1.33 billion.

According to 21st Century Fox, in June 2013, it acquired the 19 per cent stake in Vijay Television that it didn’t own and, as a result, it now owns 87 per cent interest in Asianet Communications.

Star India holds its interest in Asianet Communications through Vijay Television. The 19 per cent equity stake in Vijay Television that it bought in June 2013 was held by Rajeev Chandrasekhar and K Madhavan.

http://www.indiantelevision.com/television/tv-channels/regional/star-india-paid-160-mn-for-added-12-interest-in-asianet-communications-140311