NEW DELHI: Playing it safe, Media Content & Communication Services India Pvt. Ltd, which has applied for a licence to uplink content for Star News, has not got a replacement for Kumaramangalam Birla.
Instead, Birla's shareholding has been bought by ad man Suhel Seth who earlier had a mere five per cent equity stake in the Star Group promoted company.
Now the single largest individual shareholder in the company with 30 per cent stake, Seth confirmed to indiantelevision.com a few minutes back that he has bought Birla's shareholding.
"Now I am the single largest shareholder in the company and I am an Indian too," Seth said, in between a meeting that he was attending. 
Star now effectively becomes the second largest shareholder with 26 per cent stake.
The government, meanwhile, has said that it is examining the replies sent by MCCS and would take a decsion on the weekly extension that expires at midnight.