Murdoch to launch six TV channels in India
LONDON - Rupert Murdoch is planning to invest $100m (£51.7m) in launching six new regional TV channels in India within the next 12 months.
The move will bolster News Corporation's presence in India, where it operates entertainment channel Star TV and has a 20% stake in Tata Sky, the third largest satellite TV operator.
The channels will broadcast in six cities, but Murdoch did not reveal their identity or the content planned for them.
Murdoch told the audience in Mumbai: "In the long term, the media and advertising outlook for Asia is tremendous as ... you see the emergence of a wealthy middle class."
However, he cited India's tough media ownership regulations as barring the way to News Corp investment in the country's print market. The maximum stake a foreign-owned company can hold in a newspaper is 26%, although entertainment TV ownership is not restricted.
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