Television

TV18 stalls plans of Gujarati and south language biz news channels

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MUMBAI: TV18 has stalled its plans to launch three regional business news channels and will wait till the economic downturn reverses before it revives its growth plans in this space, a source tells Indiantelevision.com.

TV18 is looking at launching a Gujarati and a south-language business news channel. The plan is also on to launch another regional business news channel, the language of which is kept under wraps.

"We will launch these channels only when the market improves," says the source.

CNBC TV18 South will be a single channel that will beam out business news in all the four southern languages - Tamil, Telugu, Kannada and Malayalam.

TV18 believes that there is potential to grow its business by making strategic investments, both through organic and inorganic routes, in regional and local language news channels.

TV18 is planning to raise Rs 5.1 billion through rights issue, out of which Rs 3 billion will be utilised towards repaying debt and Rs 300 million on the Forbes project. The company will also invest Rs 450 million for subscribing to the rights issue of Infomedia.

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