New FDI norms for TV channels uplinking
NEW DELHI: The government on Tuesday released the notification for the revised guidelines of foreign direct investment (FDI) in uplinking of TV channels. The notification was issued on December 2, 2005.
The new guidelines allow up to 26% in news and current affairs channels and 100% in channels of general interest. Earlier, up to 49% was permitted for setting up hardware and uplinking hubs.
FDI for uplinking a non-news and current affairs TV channel has been set at 100% and FDI (including investment by Foreign Institutional Investors (FIIs), up to 26% would be permitted in news channels, subject to the condition that the portfolio investment in the form of FII/NRI deposits should not be persons acting in concert with FDI investors, as defined in the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
SOURCE:THE TIMES OF INDIA
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