Suhel Seth picks up 25 pc in STAR venture

NEW DELHI: Equus Advertising chief Suhel Seth had reportedly picked up another 25 per cent equity in STAR''s uplinking venture after Kumar Mangalam Birla''s exit, STAR India sources said here on Wednesday.
This took Seth''s total exposure in Media Content and Communication Services Ltd to 30 per cent, they said, adding Birla communicated his decision to exit the venture to STAR on Tuesday night.
Asked for confirmation of Suhel Seth picking up Birla''s equity in the venture, STAR India chief operating officer Peter Mukherjea said from Mumbai, "We have been informed that Birla has decided to withdraw and now it is for the company''s existing shareholders to look for an alternate."
"I am sure some way will be found," he said, but did not confirm or deny whether one of the existing stake holders in the venture, Suhel Seth, was buying out Birla''s equity in STAR''s news venture, Media Content and Communication Services.