TV18 to invest Rs 250cr in new ventures

The board of directors of Television Eighteen India (TV 18) today approved, in- principle, investments of Rs 250 crore in new ventures and potential acquisitions.

According to a release issued by TV 18 to the BSE today, the majority of the projects are intended to be in television, Internet and `triple convergence' areas.

"It is planned that while some of these investments will create greenfield projects, others are likely to result in acquisitions of operating companies. A significant amount shall be raised by the sale of strategic stakes in some of these downstream subsidiary companies to globally reputed investors," the release added.

The board also authorised the management to seek shareholders approval for raising Rs 300 crore in equity over a period of time, the release said.