 "Prime Minister Narendra Modi gestures upon his arrival at John F Kennedy International Airport in New York")
Prime Minister Narendra Modi will meet top officials of 21st Century Fox, News Corp and other companies at a New York gathering on April 24th in an event slated to be hosted by Fox chairman Rupert Murdoch and CEO James Murdoch, a Star source confirmed to this newspaper. James Murdoch had met Modi earlier this year.
With the Indian media and entertainment segment expected to touch $100 billion from its current valuation of $20 billion, the Murdochs are investing heavily in its India subsidiary. The company had said it expects the Indian unit to continue to grow and contribute $500 million in earnings before interest, taxes, depreciation and amortisation by 2018. In the last fiscal, Star India had earned close to $300 million in Ebitda from entertainment business alone.
The M&E sector employs close to 8 million people and the TV sector produces close to one lakh hours of content annually and the movie industry produces close to 1,200 movies in a year.
