Television Eighteen India Ltd. (TVIL) plans to expand its operations to five new cities. At the same time, the company is trying to reduce its operational expenses by closing its offices in Chennai and Kolkata.
According to industry sources, TV18 would either transfer the employees at Chennai and Kolkata or move them to a new contractual arrangement on a retainer basis. Similarly, the company would find people to provide it with content on a contract basis with a specified number of news stories every month in the new cities where it intends to expand.
According to industry analysts, the company plans to expand its news gathering operations to other cities in the country and is looking at Ahmedabad and Hyderabad in the immediate future. TV18 is also in the process of identifying other important news centres in the country and would start reporting operations from there in the future.
The company posted a net profit (before extraordinary items) of Rs 18 lakhs on a consolidated basis in the second quarter (July-September 2001) as against a loss of Rs 82 lakhs in the previous quarter.