The relationship with its existing alliances Fashion TV (FTV) and MCM running into rough weather, B4U Television Network is again looking for strategic partners. It is in talks with overseas corporate bodies (OCBs) for raising funds for its film financing plan, the corpus for which will initially be around Rs 30 crore.
B4U is also firming up its plans for film financing. The company is aiming at financing about 10 films a year with an idea to help the freshers in the industry.
Meanwhile, it has appointed I-Sec as merchant banker to its initial public offer (IPO) slated for the third quarter of 2002. Though the size of the IPO is still undecided, according to industry sources it may be around Rs 100 crore.
The company claims that the channels have reached 15 million households out of the 30-million cable connected homes in India. B4U Television Network was established in 1999 in UK. Today its channels have a global presence and can be viewed in over a 100 countries including the US, UK, Europe, Middle East, Africa, Mauritius and Canada.