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'Govt OK's 26% FDI for news channels'

 The government January 17 allowed 100 per cent foreign direct investment in uplinking of television channels in the non-news category and 26 per cent for news channels.

"FDI up to 100 per cent would be allowed with prior approval of the government for uplinking of non-news and current affairs TV channels. FDI up to 26 per cent will be permitted with prior approval of the government for uplinking a news and current affairs channel," a statement issued said.

For the news channels, the government has put the condition that portfolio investment in the form of FII and NRI deposits shall not be persons acting in concert with FDI investors as defined by Securities and Exchange Board of India.

For setting uplinking hub and teleports the government has allowed FDI of 49 per cent.

(www.financialexpress.com)

 
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