SAB to invest up to Rs 100 cr in music channel Mastii

Mumbai: Media and entertainment major Sri Adhikari Brothers Televison Network Ltd (SAB) plans to invest Rs 75-100 crore in its new channel, Mastii, and expects to break even on the same in FY`12, a top company official said.

SAB, the first production house to be listed on the BSE, launched its new music and comedy channel, Mastii, today. "We have an investment plan of Rs 75-100 crore in Mastii. The channel is already on air and is mostly a music and comedy channel. We expect the channel to break even by FY`12," SAB Group Managing Director and Vice-Chairman Markand Adhikari told reporters. The funding will be through internal accruals and debt, Adhikari said, without divulging any figures. The media firm also owns a general entertainment channel, called SAB TV. Sony Entertainment had in 2005 acquired the brand SAB from the company. However, Sony does not own any stake in the SAB Group. Adhikari further said that he expects a year-on-year growth of 15-20 per cent for the company. "Growth will be healthy," he said. It also plans to launch another channel next year, he said, without disclosing any details. The group, which also runs channels in Marathi and Bhojpuri under its different subsidiaries, Sri Adhikari Brothers Media (SABML) and Technocraft Media Private (TMPL), currently has a turnover of Rs 30 crore with a market cap of Rs 51 crore. PTI