The world’s largest media conglomerate company, News Corporation owned by Rupert Murdoch has announced that it aims to invest $100 million in India for starting six regional TV channels. India is one of the fastest growing media markets in the world.

Speaking on this issue, Murdoch said, ‘I am guessing the investments will be in the region of $100 million, and we will launch the channels within 12 months.’ He thereafter informed that the six proposed region channels will get launched under the STAR brand.  

The founder and CEO of the News Corp was speaking at the launch of Dow Jones India Titans 30 Index, which will scrutinize the leading Indian stock’s performance. He added that his company is not looking for any equity stake buyout in the country’s print media as they do not fancy being a minority stakeholder. 

‘We don't see us taking stakes in any Indian newspaper. We don't want to be a 25 per cent partner,’ Rupert Murdoch announced. The MD of The Wall Street Journal, Robert Thomson pointed out that the laws pertaining foreign ownership in India’s print media needs relaxation.

Thomson explained that this would help foreign players engage in healthy competition with the domestic companies. At the moment, the foreign firms are not allowed to possess over 26 per cent in India’s print media firms.