GBN to launch Marathi channel with Lokmat

MUMBAI: Global Broadcast News (GBN) on Thursday said it has ventured into the regional news space along with the Lokmat Group, with the launch of a 24-hour Marathi news and current affairs channel.

The channel would be launched through a 50:50 joint venture with the Lokmat Group, owners of a widely circulated daily Lokmat in Maharashtra, Global Broadcast informed the Bombay Stock Exchange (BSE).

"The launch of the Marathi channel is a continuation of the growth momentum gained by GBN since its launch and is in line with Global Broadcast's strategy of becoming an integrated media platform both nationally and regionally," TV 18 Group Managing Director Raghav Bahl said.

GBN, owns and operates 24-hour English language news and current affairs channel, CNN-IBN and is a group company of TV18.

"We see the regional language space powering the next phase of growth in the Indian television industry. Our partnership with Lokmat will be driven by these opportunities and also be in line with our quest to transform into a full play media house," Global Broadcast Joint Managing Director Sameer Manchanda said.

The new channel would target the 'highly aware and conscious Marathi speaking' audience in Western India. The spotlight would be on the spirit of 'whatever it takes', the company said.

Shares of GBN were trading at Rs 905, up 2.56 per cent on BSE in afternoon trade.