Channel Guide India Ltd informed the Bombay Stock Exchange today that the company board has decided to issue 2 million equity shares of Rs10 each at par to promoter/director/relatives/associates and selected person on preferential basis.

The board will call a shareholders meeting to obtain approval in due course, a company release says.

Queried as to the reasoning behind the move, Ravi Deshmukh, chief operating officer, Channel Guide said the it was to fund the company‘s expansion plans.

Channel Guide is a specific preview and menu free-to-air channel that primarily relays infomercials about the various satellite channels that exist today. The channel also acts as a promotional platform for the new film and music releases and highlights major cultural events and certain premium brands.

TV Lanka, a 24-hour digital satellite network, has launched multiple television channels with its Broadcast MediaServer digital video server system from SeaChange International. The service will reach audiences in Asia, Europe and the Middle East, claims TV Lanka, purported to be Sri Lanka‘s first international television station, broadcasting two video channels and six audio/music channels. Electroteks Global Networks, which operates TV Lanka has said that the broadcaster reviewed numerous video server platforms in the market and chose the most cost-effective solution to reliably support its multichannel delivery.

TV Lanka is delivered over the LMI-1 satellite, in which Electroteks has leased a full transponder with capacity for 20 television channels. The digital television channels are focused on family, cultural and entertainment programming and news.

SeaChange, the digital video systems company that has been roped in by TV Lanka to deliver its global digital satellite TV network, enables television operators to provide new on-demand services and to gain greater efficiencies in advertising and content delivery. Using MediaCluster technology, SeaChange systems help broadband, broadcast and satellite television companies to streamline operations, expand services and increase revenues, claims the company.