The Hong Kong-based Star TV has announced that it has acquired EMI Group Plc's 12.5 per cent stake in music station Channel [V].

This has consequently led to Channel [V] becoming a wholly owned company of Star TV which is a part of media baron Rupert Murdoch's News Corporation.

The company, however, did not divulge any financial details about the deal.

According to the company, it had initiated the process of buying back equity in the channel around two year back.

Initially, the music channel was set up with Star holding 50 per cent stake in the company in 1994.

The balance 50 per cent was held by EMI, Sony Corporation, BMG and Warner Music, each holding an equal 12.5 per cent stake.

According to a Star (India) spokesperson, the development would not have any impact on the Indian operations and would also not result into any kind of management change.

The music station is operationally divided into four divisions - Greater China, India, International and Networks. It currently operates 7 popular television channels in Asia and Australasia- Channel [V] Mainland China, Channel [V] Taiwan, Channel [V] India, Channel [V] Thailand, Channel [V] Australia, Channel [V] Korea and Channel [V] International.

Channel [V] is seen in more than 48 million homes. As per the company, syndication brings the services into 110 million homes.