Murdoch to invest $100 million on 6 new TV channels in India

Mumbai, Aug 4 (IANS) Rupert Murdoch's Star Group Ltd will invest $100 million (Rs.4.2 billion) to launch six new television channels in India within the next 12 months, Murdoch told reporters here Monday.

Murdoch is here to announce the launch of the Dow Jones India Titan 30 Index.

Star Group Ltd is owned by the United States-based global media conglomerate News Corporation. Murdoch heads News Corporation which last year acquired global business news and information services firm Dow Jones in a $5 billion (Rs.211 billion) buyout.

News Corporation, however, "has no plans to acquire stakes in the Indian print media as there is a 26 percent cap on foreign ownership in print," Mur