Tech & Biz

Murdoch to invest 100m in India

by jessica.lam | August 4, 2008 at 08:54 am

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Keeping on top of all the goings on is a tough job. Just wanting to bring this to the attention of all the those curious about the developments global media.

Rupert Murdoch's News Corp plans to invest $100m (£50.8m) over the next year to start six regional television channels in India.

The channels will broadcast in six languages and run under the Star brand.

Mr Murdoch also said he would double the number of staff at Dow Jones Newswires, which he bought along with the Wall Street Journal last year.

The expansion plans underscore Mr Murdoch's commitment to one of the world's fastest growing media markets.

News Corp also has a presence in China through its Star network but some analysts think India's more open media sector could provide greater opportunities.

Mr Murdoch also announced the launch of a 30-strong stock index, called the Dow Jones India Titans, that would track the performance of prominent Indian companies including Reliance Industries and Infosys.

News Corp bought Dow Jones & Co for about $5.6bn last year and is an aggressive buyer of media companies worldwide.

The company also owns MySpace and Twentieth Century Fox.

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Sanjay Jha

at 23:40 on August 4th, 2008

Yes, Murdoch also announced a new Index for Indian Stock market, a rival for the fabled Sensex. It will on the same lines of the widely tracked Dow Jones Industrial Average index covering 30 large US companies listed on the New York Stock Exchange. The new blue chip index for India will be called the Dow Jones India Titans 30 Index and will measure the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Murodch operate bouquet of channels under Star brand in India.