Star India denies split from Balaji

Star holds 25.9% stake in leading TV producer

NEW DELHI -- Star India on Friday denied local media reports that the network is divesting its 25.9% equity stake in India's top TV production house Balaji Telefilms.

"As of now, there is no truth in these reports," Star India vp corporate communications Yash Khanna said, adding that publicly listed Balaji had said the same to officials of the Bombay Stock Exchange.

In April 2007, Star and Balaji formed a joint venture to launch a regional language network for South India with 51% owned by Star.