Media baron Rupert Murdoch was non-committal on taking a stake in Marathi newspaper group Sakaal whose officials he met recently in Pune.
The Sakaal group is promoted by Abhijeet Pawar, nephew of Union Agriculture Minister Sharad Pawar.
On Sunday, Murdoch met Sakaal managing director Abhijeet Pawar over lunch sparking off a speculation that he would pick up a stake in the company.
However, Murdoch dismissed the rumour. "We know them. We are friends and met for lunch," he said.
Simultaneously, Murdoch has announced plans to launch six regional channels under the Star brand in the next 12 months at an investment of $100 million.
Sakaal group, which runs a Marathi daily and recently launched an English one, is looking at setting up a Marathi infotainment channel.
Murdoch was in Mumbai to announce the launch of a Dow Jones index for Indian companies.
The media baron is wary of investing in an Indian newspaper because the prevailing regulatory environment allows only 26 per cent control by a foreign company.
"We are not looking at a regional publication, may be a regional television," he said.
He also pointed out the intense competition in the Indian newspaper market.
