The Dhoot brothers, promoters of the Videocon group, have decided to launch a 24-hour Hindi business news channel called Bharat Business Channel (BBC).
The Dhoots are routing this through a newly floated joint venture, also named Bharat Business Channel.
The Dhoots will hold a 60 per cent stake in the joint venture, while the balance 40 per cent will be held by a US-based media firm. Later, the US-based company is expected to hike its stake to 51 per cent.
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The initial investment in the venture is likely to be around Rs 50 crore.
Venugopal Dhoot, chairman of Videocon Group, said,
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