Speaking about the acquisition Star communications head Yash Khanna
said: " It is a natural progression of ownership. While we
were holding 87.5 per cent stake in the company, it was just a matter
of time before we had the remaining 12.5 per cent as well."
Channel [V] was set up as a joint venture between EMI, Sony Corp.,
BMG and Warner Music in 1994, with each partner owning 12.5 per
cent of the company share. Almost five years later Star began buying
its partners out.
According to Khanna, the acquisition of the remaining 12.5 per
cent was always on the cards. He asserted that there would be no
changes, as of now, in either the programming strategy or the channel