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Indian media company ABP Pvt. Ltd. is set to buy out Star Group Ltd.'s stake in news television joint venture Media Content and Communications Services India Pvt. Ltd., the Business Standard newspaper reported Monday, citing unnamed sources.
Formed in 2003, MCCS is a 74%-26% joint venture between ABP unit Anandabazar Patrika TV and Star News Broadcasting, a unit of News Corp.'s Star Group.
The company runs Hindi, Bengali and Marathi regional language news channels.
A formal announcement could come as early as Monday, the report said, adding that both Star India and ABP declined comment.
Dow Jones--publisher of this newswire and The Wall Street Journal--is owned by News Corp., as is the Star Group.
Newspaper website: http://www.business-standard.com
--By New Delhi Bureau, Dow Jones Newswires; 91 11 4356 3300; firstname.lastname@example.org