Raj Television to enter film production
Raj Television Network, intends to start producing full-length feature films, by the first quarter of fiscal 2008, reports Business Line.
The company will invest Rs 60 million. Film production will give the company rights to broadcast parts as well as the entire film. Raj has a database of about 3,000 films and holds film rights for over 1,380 films (valued at about Rs 3.75 billion).
The company approved plans to launch its own direct-to-home (DTH) platform. The promoter holding in the DTH business would not be more than 27%, in line with the government rules. At present, the promoters hold about 72.5% in the company.
The company obtained licenses to start a music channel, a 24X7 news channel and a kids channel each in the four South Indian languages. The company is likely to lease one transponder to beam all these channels.
The company recently got approvals to expand existing bandwidth capacity by 4-4.5 KB. The network has also finalized agreements for overseas broadcast of its channels to stations in Malaysia and the UK.
Shares of the company closed up Rs 2.8, or 1.34% at Rs 211.55. The total volume of shares traded at the BSE was 50,623.( Thursday ).
