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.
The initial investment in the venture is likely to be around Rs 50 crore.
Venugopal Dhoot, chairman of Videocon Group, said,
