[icernet] Star TV buys EMI stake in Channel [V]

[Arul Selvan]

The Hong Kong-based Star TV has announced that it has acquired EMI Group 
Plc's 12.5 per cent stake in music station Channel [V]. This has 
consequently led to Channel [V] becoming a wholly owned company of Star 
TV which is a part of media baron Rupert Murdoch's News Corporation. 
Initially, the music channel was set up with Star holding 50 per cent 
stake in the company in 1994. The balance 50 per cent was held by EMI, 
Sony Corporation, BMG and Warner Music, each holding an equal 12.5 per 
cent stake. Channel [V] is seen in more than 48 million homes. As per 
the company, syndication brings the services into 110 million homes.


Source:
http://www.rediff.com/money/2003/apr/09star.htm