CNBC India and Sony Entertainment
Television (SET) has extended its deal for ad sales
and distribution by three years. The deal, which was
ending in March 2003, will now continue up to March
2006. SET handles ad sales and distribution for CNBC
in India. The original deal was struck last year.
Though SET had signed a MoU to pick up 20 per cent
stake in CNBC India as a part of the distribution
agreement, the deal has not come through yet.
On the launch of the second
channel in India, Mr. Raghav Bahl, managing director,
Television Eighteen India said, it would be positioned
on the infotainment platform comprising news and news
features. The launch of the channel was subject to
the required investments coming in. The overall
investment of the channel will be Rs 40 crores. TV 18
will invest Rs 20 crores while the balance would come
from venture capitalists. It will be a pay channel,
Mr. Bahl said.