It's not clear how much stake Menon held in the new Star Jupiter venture. Star India had reportedly paid $235 million in cash for the 51% stake and assumed net debt of approximately $20 million. The joint venture, called "Star Jupiter", comprised all general entertainment channels of Asianet 8 October 2013 Bombay 12 March Communications (Asianet, Asianet Plus, Asianet Suvarna and Asianet Sitara ) and Star Vijay. Star India eventually bought a 51% stake in Asianet Communications and formed a joint venture with JEV in November 2008. Star India started talks with the owners of the Asianet channels in August, 2008. This move was to allow separate investments in each company. Rajiv Chandrasekhar era (2006–2008) Star India acquisitions (2008–2014) Īsianet was restructured into four companies in June 2008 (general entertainment, news, radio and media infrastructure). The central Government sanction for a full-fledged news channel took time and hence it was launched much later than planned on. Asianet news operated from Gorky Bhavan from 2000. Under an arrangement with the Russian embassy with the help of Dr Ratheesh Nair (current), the Gorky Bhavan was repaired and taken over by Asianet. The remaining 50% shares in Asianet Satellite communications, the cable networking company was also sold to The Raheja Group who now had complete ownership of the Cable Networking Company called Asianet Satellite Communications.Īsianet started one more channel as Asianet Global on 6 July 2001 to cater to the Malayalees outside India, and this was later restructured into a News Channel.Īsianet aired its first news bulletin starting 30 September 1995.
Dr Menon bought back the shares earlier given to Mr Sashikumar in 1999 at an agreed price, and took over full control of Asianet. 5% of the equity was with Mr Raghu Nandan (Dr Menon’ elder brother). Dr Menon increased Mr Sashikumar's share from the initial 5% to 45% in stages. In the absence of bank financing 50% shares of the cable networking company was sold to Raheja Group. ( October 2022) ( Learn how and when to remove this template message) Unsourced material may be challenged and removed. Please help improve this section by adding citations to reliable sources.
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