BAG Films and Media Ltd is planning to launch India's first sports news channel. The channel will have content in both Hindi and English languages and will air shows focused only on sports.
"It is in the planning phase and we hope to launch the channel in another 6 months' time," said Anurradha Prasad, chairperson and managing director, BAG Network. Apart from cricket the channel will have content on football, hockey, golf and other sports as well.
BAG already has the infrastructure available for running TV news channels in Noida, Uttar Pradesh, and runs two channels --- News 24 and E-24. "We will invest around Rs 1 billion (Rs 100 crore) over a period of time in the channel. We are open to private equity investments and qualified institutional placements for the venture," said Prasad.
BAG Films recently raised $17.4 million through a GDR issue to fund its existing broadcasting business. The board of the company has taken an approval to raise $30 million over two years.
"There are over 100 regional and national news channels in India and over 150 Hindi and 4 sports channels in the country but no dedicated sports news channel. This will be the first sports news channel in the country," she said.
BAG said that the channel will provide a cheaper option for advertisers other than sports channels. "Over 50 per cent of the top-rated content on the news channels is sports-centric and 25-30 per cent of the content on nes channels very day is on sports. This makes a good case for launching a sports news channel," Prasad said. According to an E&Y report, sports programmes on news channels get around Rs 2 billion (Rs 200 crore) and this is growing every year.
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