| The diversified Xenitis group will invest Rs 100 crore in its media venture Kolkata TV, slated for launch of March 27.
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| Santanu Ghosh, chairman of the Xenitis group, said that Rs 50 crore had already been invested in the channel and another Rs 50 crore would be put in by December 2006.
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| Xenitis has floated a company called SST Media (P) Ltd for the Bengali infotainment channel.
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| Ghosh had earlier said that the group could come out with an initial public offering of Rs 200 crore in September 2006 to fund its new ventures.
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| "The 24X7 channel will strive to satiate the curiosity of Bengali viewers across the globe with real-time update from the world of politics, business, art and culture, education, sports and entertainment," Ghosh said.
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| SST Media Pvt. Ltd had secured its licence from the Government of India for its free-to-air channel on November 30, 2005.
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| Speaking to the members of the media, Suman Chattopadhyay, director and editor of Kolkata TV, said, "Despite a plethora of channels that are currently on air, we feel that there is still immense scope and demand for information on issues and events that affect the everyday life of the viewer."
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| According to him, Kolkata TV has put together a team of efficient newspersons not only in Kolkata and West Bengal, but also in all major metros to ensure coverage of events of national importance.
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| Infrastructure has been put together to support this information network.
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| Kolkata TV had also entered into strategic partnerships with news providers like APTN, ANI and Reuters.
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| Other agreements were in the process of being finalised and would be announced soon.
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| Chattopadhyay would head the team of experienced journalists in Kolkata TV.
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| Film maker Aparna Sen was heading the creative team as director. |
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