Chandigarh based production house Kohinoor Broadcasting is gearing up to launch a news and entertainment channel in the UK.
At this stage, the company has approved the board of directors and the opening of a subsidiary company in the UK. The company is also taking over the multiplex Tagore Theatre which is valued at Rs 1 billion.
A press release from Kohinoor said, “The board has approved the proposal of takeover of Tagore Theatre (valuing approximately Rs 1 billion), a multiplex, at a valuation to be conducted by Knight Frank India, Chesterton Meghraj, Jones Lang Lasalle and PricewaterhouseCoopers. The board has authorised the committee of directors to complete the transaction and finalise the swap ratio for the proposed takeover.”