20 Apr 07 Balaji Telefilms and STAR group go in for a joint venture

Balaji Telefilms and STAR group have decided to go in for a 49-51 joint venture in which Balaji Telefilms would invest Rs. 60 crores for a 49% stake and STAR will hold 51% stake. The mission of the JV is to create a network of regional language general entertainment television channels. The popular Tamil channel “STAR Vijay” which is already owned by the Star group will be transferred to the joint venture, as part of the deal.

Balaji Telefilms dominates the television content business. It provides content to most Hindi satellite channels apart fromÃ‚Â Gemini in Telugu and Udaya in Kannada. After the joint venture announcement was made, the shares of Balaji Telefilms surged by 4.75% to Rs. 170

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