During the three-day visit beginning on Tuesday, September 9, Murdoch will meet the Indian businessmen who have shown an interest in picking up a 51 per cent stake in Media Content and Communication Services, a company set up to launch the Star News channel. Among the front-runners for the stake is the Kolkata-based ABP Ltd.
It is worth noting that Star has up to September 22 to get a dominant Indian partner in MCCS in order to comply with government rules recently laid down which require an Indian shareholder with a stake of at least 51 per cent in any news uplinking venture.
Besides, Murdoch is also expected to meet the existing shareholders of MCCS, Star India sources said.
The present Indian shareholders of MCCS are advertising professional Suhel Seth, who owns a 30 per cent in the company, Merrill Lynch vice chairman Hemendra Kothari with a 25 per cent stake, Hindustan Times editor Vir Sanghvi with a 5 per cent stake, lawyer Raian Karanjiwala with a 4 per cent stake, television personality Maya Alagh with a 5 per cent and actor Jeetendra Kapoor also with a 5 per cent stake.
However, Murdoch is not holding any discussions with the government during his visit and his trip is restricted to Mumbai.
