The wife of former Star India CEO Peter Mukherjea was on Tuesday detained by police for her alleged role in her sister's murder in 2012.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
Disney Star India, bought at a valuation of $15 billion, could be on the block for roughly one-third that amount.
The broadcaster had bought the stake in 2004.
The group seems undeterred by stiff competition posed by new entrants like Colors and NDTV Imagine in the general entertainment segment.
Indrani Mukerjea was the founder and chief executive officer while Peter Mukerjea was chairman and chief strategy officer. They set up INX Media three years ago after Mukerjea resigned as Star India CEO. According to a press release issued by the company, they will continue to be shareholders in the broadcasting company.
D B Corp, the owner of the Hindi daily Dainik Bhaskar, is in advanced discussions with broadcaster INX Media to acquire a stake in the company that operates the entertainment channels as well as a majority stake in its English language news channel NewsX. Both companies are promoted by Indrani and Peter Mukerjea, the former Star India CEO.
Indi Media had bought NewsX in January from INX News, reportedly for Rs 50 crore. INX was promoted by ex-Star India CEO Peter Mukerjea and his wife, Indrani Mukerjea, both of whom quit the company with the sale. Indi Media is said to be owned by a clutch of investors led by Vinay Chhajlani, CEO of Webdunia.com India, and promoter of the Hindi daily, Nai Duniya, and by Jehangir S Pocha, former editor of the weekly, Business World.
STAR India, a wholly owned subsidiary of STAR Hong Kong, is exploring the possibilities of getting into the print media business in India. Last week, top STAR executives including STAR Hong Kong CEO Paul Aiello, STAR India CEO Uday Shankar and COO Jagdish Kumar were in Bangalore for meetings with possible joint venture partners for the print foray. The company is said to be in talks with Vijay Mallya's UB Group.
Star India paid Rs 16,347.50 crore for the IPL's global media rights for five years.
Star Group on Friday petitioned the government for early clearance of its DTH venture, saying the service could be provided for as little as Rs 180 per month from November this year.
Guess who else features on the Variety500 list?
Indrani Mukerjea, the prime accused in the Sheena Bora murder case, her husband and former Star India CEO Peter Mukerjea, and others who have come under the investigators' scanner in the murky family saga on Friday faced day-long interrogation.
Former Star India CEO Peter Mukerjea, husband of accused Indrani Mukerjea in the sensational Sheena Bora murder case, underwent a fresh round of questioning on Thursday and is likely to be confronted with his wife.
In a U-turn, former Star India CEO Peter Mukherjea on Thursday said deceased Sheena Bora had informed him that she was his step-daughter but he had no reasons not to believe his wife Indrani's denial of that claim though he found it "difficult to digest".
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The network also unveiled a new brand identity for Star Sports across six channels and has renamed all the ESPN channels, subsequent to the buyout of ESPN Inc's stake in their 16 year old joint venture ESPN STAR Sports.
Custody of Indrani Mukerjea, arrested for killing her daughter, Sheena Bora ends on Monday
Indrani Mukerjea, key accused in the sensational Sheena Bora murder case, has "confessed" to her role in the crime, while her husband, ex-Star India CEO Peter Mukerjea, underwent another round of marathon grilling today even as police tries to crack the intriguing case.
Her corporate footprint is fading fast.
Here are the developments in the murder case which has taken explosive twists and turns since Indrani's arrest on Thursday night.
A local court remanded Indrani and her driver Shyam Rai to judicial custody for two weeks while the other accused Sanjay Khanna was taken to Kolkata for being produced in a court there.
Police on Wednesday brought former Star India CEO Peter Mukerjea face to face with his wife Indrani and the two other accused in the Sheena Bora murder case and questioned them extensively.
The sensational Sheena Bora murder case has taken yet another turn with the Mumbai police seizing a suitcase that was purportedly meant for packing the body of her brother, Mikhail whom Indrani Mukherjea had allegedly planned to kill, even as key accused Sanjeev Khanna and the driver were taken to spot to re-create the crime scene.
The move will catapult Disney as the country's largest media and entertainment broadcaster, with over $1.3 billion of additional India revenue.
A day after gory details of Sheena Bora murder case were revealed by police in court, her biological father on Tuesday came out in the open for the first time while skeletal remains purportedly of the 24-year-old unearthed in Raigad were sent to Forensic Science Laboratory in Mumbai.
Taken aback by the turn of events following the arrest of his wife Indrani in connection with the murder of Sheena Bora, former Star TV CEO Peter Mukerjea on Wednesday distanced himself from the case.
Indrani Mukerjea faced fresh charges of poisoning and attempting to murder her son Mikhail as police suspect involvement of people outside the state in the sensational crime.
In a new twist to the Sheena Bora murder saga, Indrani Mukerjea and her former husband Sanjeev Khanna have blamed each other for the crime during police interrogation.
The car in which Sheena Bora was allegedly killed was on Saturday traced while questions cropped up of a cover-up by police in not registering a case of murder or accidental death 3 years ago when a partially-burnt body believed to be hers was found.
Caught in a web of half truths, the Sheena Bora murder case continues to baffle investigators. Here are the top developments of the day.
Clusters of policemen and television journalists alertly anticipated the arrival of Mumbai's joint commissioner of police, who, it was confirmed by most people I asked, does not visit court often. No one could remember when they had last heard of Deven Bharti appearing as a witness in a murder trial.
How much more gray or bald would Inspector Alaknure have become when we see him next? Will Peter still be wearing white shirts and khaki trousers and eating large lunches? Will Judge Jagdale be still in charge of the case? Who will be the prime minister when Alaknure appears in court next?
Accused No 1 announced that there had been a change in the circumstances of her health condition. She produced a thick 19-page document, written in her neat, very feminine handwriting, detailing her condition, its symptoms and the consequences it could have on her health and well-being.
That answer, the strangest of all till date in this courtroom, set off a ripple of excitement, surprise and muted amusement among those present, including Accused No 1 Indrani Mukerjea.
Something about the big car and its passengers, standing solemnly outside their vehicle, piqued the biker's interest.
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