UTV Group will start eight new channels with an investment outlay of $200 million by March 2008.
"We are finalising the launch of eight new channels. Four of them will go on air from August 15 this year and the rest by March 2008," Ronnie Screwvala, Founder CEO of UTV Group said in Dubai.
Four of the pay-TV channels will target young urban viewers.
The company also plans to become a global entity by tying up with major Hollywood production houses.
"UTV wants to produce at least 12 movies a year, including an international title, possibly in collaboration with players in Hollywood or other places," Screwvala said.
West
Asia, he said, is an important market for the Indian film industry, the largest in the world in terms of volume.
"The West Asia contributes significantly as there is a large Indian expatriate community here. We will enter into negotiations with distributors here to make them (channels) available to the Gulf audiences," Screwvala was quoted as saying by Gulf News.
The company has a market capitalisation of $220 million and is listing its motion picture arm on London's Alternative Investment Market next month.
Walt Disney Company had acquired a 15 per cent stake in UTV to enhance its presence in Asian and Indian cinema.
