Posted:
s reported by a television portal, Balaji Telefilms has broken all ties with Rupert Murdoch's Star Group which owns 25.99 per cent shares in the company via Asian Broadcasting FZ LLC.
"The agreements entered into between Balaji and Star in April 2007 relating to the regional languages joint venture will also be terminated," Balaji revealed in a statement.
Ekta Kapoor's promoters will buy back the share owned by Star at the rate of Rs 190 per share in the next 240 days. Reports state that if the shares are not bought back in the agreed amount of days, Star will be free to sell the shares to anyone except a rival.
The six Hindi shows that are currently on air with Star Group will continue as per the terms originally agreed upon by the parties.
More details and information to appear soon.
Source:http://www.buzz18.com/news/tv/balaji-bids-farewell-to-star-group/76241/0
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