Television

Aastha Broadcasting Network to set up Singapore subsidiary

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MUMBAI: India's prominent spiritual network, Aastha Broadcasting Network Ltd (ABNL), is setting up a Wholly Owned Subsidiary (WOS) in Singapore.

The subsidiary will take care of the company's international operations including the distribution and marketing of Aastha group of satellite channels.

"The subsidiary will handle ABNL's international operations. Our US and UK operations will be looked after by this proposed subsidiary while the ABNL India will take care of the Indian operations," ABNL director Hiren Doshi told indiantelevision.com. Doshi didn't divulge the investment details.

A meeting of the Board of Directors, held on 28 June, approved the plan.

Doshi said the company wouldn't be listed in the Singapore stock exchange, but didn't rule out the possibility of doing so in the future. "The board of directors has just approved the proposal. Our next mission is to get all the requisite permission from the government. We are yet to finalise a name for the company," Doshi added.

ABNL's move throws light on the company's aggressive plans to tap the international market. In the US, Aastha channel is available on the DirecTV platform. "The network has obtained licences to launch on BSkyB's direct-to-home (DTH) platform in the UK and Europe and the Asian Television Network (ATN) platform in Canada," offers Doshi.

According to Doshi, Aastha will be targeting New Zealand, Australia and South Africa in the next phase. "ABNL will diversify in all parts of the world wherever Asian Indians are present," he says.

 

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