Government to decide on fate of digital media companies with FDI higher than 26 per cent

Flooded with concerns from media companies on the recent imposition of a 26 per cent limit on foreign direct investment (FDI) through the government route in the digital media sector, the Centre is looking at coming up with a clear decision on how such companies that already have a foreign share holding above 26 per cent should be treated.

“The DPIIT has received numerous queries on the implications of the FDI limit of 26 per cent in digital media. It is closely examining its options regarding the fate of the companies that already have FDI greater than 26 per cent. Most other concerns need only some clarifications and explanations,” an official told BusinessLine.