Private equity firm Temasek is exiting the company by selling its 10 per cent stake while Rupert Murdoch ’s Network Digital Distribution Services will pare part of its 30 per cent stake, according to a source close to the development. “The company has a good business model in the long run but for the next few years it will continue to make huge losses. It has negative net worth,” an investor who was approached for the stake sale told Business Standard.
For fiscal 2011-12, Tata Sky made a net loss of Rs 298 crore on net sales of Rs 1,590 crore as compared to a net loss of Rs 470 crore on net sales of Rs 1,350 crore recorded in the previous fiscal. Full story
