Pressure is on for the satellite broadcaster to find a buyer for a 51pc stake in its Hindi-language news content provider
James Murdoch, chairman and chief executive of Hong Kong-based Star Group, will reportedly fly to Mumbai tomorrow to seek an Indian business partner for a majority stake in its Hindi news channel.
Mr Murdoch is to spend three days in India's financial capital to meet businessmen interested in buying a 51 per cent stake in Media Content and Communication Services (MCCS), which provides the content to the country's 24-hour Star News channel.
According to leading financial daily Business Standard, the front-runner is Calcutta-based media house Anand Bazar Patrika, which publishes newspapers and magazines in English and Bengali.
The Indian government last month ordered MCCS to find a dominant Indian shareholder with proven financial strength to have complete management and editorial control over Star News.
India's Information and Broadcasting Ministry has made recasting of MCCS' corporate structure a precondition for granting a long-term permit for satellite uplink.