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Mukta Arts offered equity in Dubai-based Arab Venture Corporation

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MUMBAI: Subhas Ghai-promoted Mukta Arts may pick up equity in Arab Venture Corporation (AVC), a Dubai-based company which has a studio and is planning to launch a channel.

Mukta Arts has been offered equity but has not taken a final decision on exercising that option. "We have the option to pick up equity in the company. The structuring is yet to be finalised," Mukta Arts chief executive officer Ravi Gupta tells indiantelevision.com.

AVC is planning to launch on 12 January INTV, a channel, which will focus on fashion and lifestyle content.

Mukta Arts may float a subsidiary company in Dubai to hold stake in AVC. "The holding can be through a subsidiary company overseas or we may decide to have it through the Indian outfit," says Gupta. He, however, did not spell out how much equity stake Mukta Arts was being offered.

Mukta Arts will be a programme supplier and also help set up infrastructure for INTV. The English-language channel will start with original content of 8-10 hours a day. The content will cover local events in Dubai ranging from fashion to lifestyle and shopping. "We are providing turnkey support to the channel. We have sent a team to carry out production work in Dubai. We will also be providing Bollywood content from India," says Gupta.

Though Mukta Arts is contemplating how to expand television content, movie business will continue to be the main activity and revenue source for the company, he adds.

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