Former Star TV CEO Peter Mukerjea promoted INX Media and INX News on Wednesday officially announced plans to launch a new television network.
The bouquet of channels will include a Hindi entertainment channel, an English news channel, various entertainment channels in regional languages, a music channel and city-specific channels.
The Hindi general entertainment channel, the music channel and the English news channel will be launched by the last quarter of 2007. The other channels will be rolled out over the next two years.
The entertainment company, INX Media, has been financed by Asian investment firm Temasek Holdings via Dunearn Investments, New Silk Route, New Vernon, Kotak and Srei Group.
The news company, INX News, will be 26 per cent owned by the entertainment company, and, in accordance with the government regulations, by a single Indian entity drawn from the INX Group.
Indrani Mukerjea, the promoter of the INX Group, will be chairperson of this venture. Vir Sanghvi will be the CEO of INX News and editorial head of the news channel.
The two companies have applied to the government for necessary permissions.