NEW DELHI: The Indian government is contemplating allowing foreign institutional investors (FIIs) to invest in television news channels even as the 31 October deadline to conform to the existing guidelines draws near.
FIIs could not invest in news channels uplinking from India, according to an interpretation of an existing government order (it cannot be technically termed as a law) that was announced in March, 2003.
The government order, which was issued in the aftermath of Star News case, impacted most Indian news channels as there were severe restrictions on their capacity to access FII funds. As per the order, the same guidelines followed in print medium regarding foreign investments had be followed in toto by news channels as well. There is a cap of 26 per cent on total foreign holdings in news publications in the country.
A senior information and broadcasting ministry official told
indiantelevision.com, “We are seriously seized of the matter and would like to clear the confusion before the October deadline.”
The official further added that the “possibility of inclusion of FII investments within the overall sectoral cap in news channels is high.”
At present, news channels desirous of uplinking from India are not eligible to have more than 26 per cent foreign direct investment (FDI).
The FII issue had kicked up a storm as most news ventures like the NDTV channels, Aaj Tak, Headlines Today, CNBC-TV 18 and Zee News were asked to conform to the government order. These channels had petitioned the I&B ministry that apart from other issues, it would be difficult for listed Indian entities to keep track of any FII buying or selling of shares from the stock market.
According to the government official, had all the news channels been unanimous on the FII and other foreign investment issue, it would have been easier for the government to take a final call.
“But there have been different sets of explanations and demands. One broadcaster even wanted the total foreign investment cap in news ventures being raised to 49 per cent,” the official said. “However, raising of foreign investment caps in the present scenario is highly unlikely.
Adherence to the foreign investment cap in case of news ventures is also one of the issues why the government has not yet cleared Zee’s request seeking uplinking permission for a proposed business news channel which had a short-lived run on a DTH platform before being discontinued.
Tag: NDTV channels
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Govt may allow FII inflows in news channels
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NDTV channels to air I-Day mega show with Aamir – tribute to Kargil soldiers
MUMBAI: Bollywood biggie Aamir Khan is the star attraction for an exclusive Independence Day show Jai Jawan that will be telecast on NDTV 24×7 and NDTV India on 15 August.
The Independence Day special on the sibling news channels doffs its cap to the Hollywood tradition of stars visiting American troops in far flung regions to boost their morale. NDTV promoter Dr Prannoy Roy thought of the idea and approached Aamir six months ago, say informed sources.
Bollywood Superstar Aamir Khan has done a Lagaan for the soldiers in Kargil.
The two-hour show, which has Aamir teaming up with NDTV news anchor and presenter Barkha Dutt, was shot over five days in the Himalayan heights of the Dras and Kargil sectors on the Pakistan border.
A highlight of the Independence Day event is a cricket match a la Aamir’s celebrated film Lagaan and a full-scale live entertainment show by the star to a gathering of soldiers from units all over Kargil.
The cricket match was held at Mogulpura in Kargil – at a height of 11,000 feet. Aamir leads a team of soldiers – the Lagaan XI against the officers – the Ladakh Scouts team. And for the winners – bats autographed by cricket legend Sachin Tendulkar and the actor himself.
During Aamir’s five days in Kargil, he mixed freely with the soldiers, exchanging anecdotes and bringing them surprise gifts and video messages from their families, informed sources say.
Aamir’s visit involved interaction with the soldiers in their daily routines, sharing early breakfast and a night in a bunker at the barracks of a regular unit at the front.
Bollywood stars meeting the troops at the frontlines is not a first. The likes of Nana Patekar (in particular), Suneil Shetty, Raveena Tandon and Shilpa Shetty have done it before, but never on this scale.
The ratings the Jai Jawan show garners will be worth tracking, for this is the kind of show that could have as well been pitched on a mainstream entertainment channel. Whatever it delivers on the ratings scale, there is no denying that this is a one-of-a-kind event and a first for Indian television.