DEN Networks to exit Star Den

MSO player DEN Network on Wednesday said that it is selling entire stake in the joint venture with Star India called Star Den. In a listing at the BSE, DEN Networks said, “DEN Networks has entered into a share purchase agreement…with Star India and Star Den for selling off its entire 50 per cent equity held in Star Den for ₹40.35 crore.” It said that post the completion of the share transfer to Star India, Den shall cease to be a shareholder in Star Den and the joint venture agreement executed among the parties shall stand terminated. This JV was formed in 2008, for distribution TV channels and was set up to exclusively sell Star India’s channels in the domestic market across platforms.