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Sony to double programming budget

23-March-2001
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Sony to double programming budget

SET India plans to double its programming budget to Rs 300 crore for 2001-2002. The company expected to close this fiscal with a revenue of around Rs 600 crore, which would be a 50 per cent jump from last year. However, there would be no jump in profits compared with last fiscal's level of around Rs 60 crore.

Also in the offing is a major foray into film production and distribution. The channel is entering into a tripartite alliance with Columbia Tristar and Sony Music. The budget for this scheme is expected to be around Rs 60 crore in the next one year.

SET India is currently strengthening its management structure. Over the next one month, the company plans to increase its top management strength from four to eleven.

The new media initiatives of the company would be directed at digitalising its 7,000 hours of programming and film content.

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