Raj Television Network said today that the company is planning to enter into the print media business. The company may dilute 5-10% of equity depending on the market conditions to meet the future fund requirements, Raj Television said.
The sources said that this is the long term objective, but at present, the company doesnt have any proposal in hand.
Earlier, a financial daily had reported that Raj Television was planning to venture into print media and was open to acquiring a Tamil newspaper. The newspaper reported that the company plans to raise Rs500mn to Rs1bn from private equity firms to build a studio, office complex and for its film production business. It also added that Raj Television will look to offer 5-10% stake for the fund infusion.
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