Govt. defers decision on 9X Jhakaas merger into INX Music

NEW DELHI: The Finance Ministry has deferred a decision on a proposal by Insight Media City for uplinking and down linking of general entertainment channel (non-news category) and uplinking and down linking of news and current affairs channel (news category).

Following the recommendations by the Foreign Investments Promotion Board (FIPB), the Ministry also deferred a decision on the proposal under which the Marathi channel 9X Jhakaas will be merged into INX Music.

INX Music has 70.85 per cent indirect foreign investment and proposes to undertake the additional activity of broadcasting of a non-news and current affairs channels in various Indian languages.

Decision was also deferred on a proposal by India Value Fund IV for making downstream investment in companies engaged in ISP and Multi Subscriber Operator (MSO) activities.

Chorus Call INC, USA will also have to wait as the FIPB deferred its proposal for increase in the foreign equity from 74 per cent to 100 per cent in Chorus Call Conferencing Services India engaged in providing services like transmission of voice, video and data.

FIPB also deferred a decision on Thaicom Public Company Limited, Thailand, proposal for incorporating a WoS for providing leasing of satellite space for video broadcasting DSNG, VSAT services.