The first channel by the group will be called Mangalam and will be in Malayalam. According to a senior company official, the publishing division, which has an annual turnover of Rs 60 crore, will start the channel with an initial investment of Rs 50 crore.
"The total revenue generated by Kerala is worth Rs1000 crore and since it is a consumer driven society, we hope to break even within one year of our operations.
The Mangalam Group of Publications owns Mangalam Weekly, Mangala Weekly (Kannada), Kanyaka women's magazine, Balamangalam children's fortnightly, Balamangala children's fortnightly (Kannada), Kalicheppu children's magazine, Gilivindu children's magazine (Kannada), Balamangalam Chithra Katha, Cinema Mangalam Weekly and Mangalam daily.
The group plans to invest 51 per cent equity in the electronic media venture, while the remaining 49 per cent will be offloaded to a yet-to-be-disclosed investor.
The major Malayalam television players in Kerala include Asianet, Surya TV, Kairali TV, Jeevan TV, Amrita TV and Malayalam Television.