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MUMBAI:
Chandigarh-based production house Kohinoor Broadcasting Corporation
Ltd (KBCL) is launching a TV channel in the UK. To this end,
the board of directors of the company has also approved the
opening of a subsidiary company in the UK.
The
company is also taking over the multiplex Tagore Theatre which
is valued at Rs 1 billion.
"The
board has approved the proposal of takeover of Tagore Theatre
(valuing approximately Rs 1 billion), a multiplex, at a valuation
to be conducted by Knight Frank India, Chesterton Meghraj,
Jones Lang Lasalle and PricewaterhouseCoopers. The board has
authorised the committee of directors to complete the transaction
and finalise the swap ratio for the proposed takeover,"
said a press release.
The
board has taken note of the receipt of the equipment for teleport
to be set up at Rajpura involving a capital outlay of Rs 50
million. It has also taken note of the orders placed for play-out
station to be set up at Rajpura involving a capital outlay
of Rs 100 million.
The
release added, "The board took note of the progress of production of the
buffer content for its forthcoming news and entertainment channel." On
Monday, the scrip of Kohinoor Broadcasting shot up 4.76 per cent to close at Rs
19.80. | 
