MUMBAI: Raj Television Network has announced its entry into the movie distribution business.

The company, which already has a presence in the broadcasting and film production space, has acquired the exclusive distribution rights of an upcoming Tamil movie Kutty, starring Tamil star Dhanus, for some specified areas in Tamil Nadu.

The move is part of Raj TV's potential external growth strategy.

The company feels that it can manage to recover its investments in the few weeks of release of the movie. There is also substantial scope to grow further as the Tamil movie market is expanding both geographically and economically across the world.

Shares of Raj TV closed on the BSE at Rs 63.05 on Wednesday, up 0.75 per cent from the previous day's close.