MUMBAI: Thomson Reuters is planning to launch a business television news channel by January next year, entering the competition that already has market leader CNBC and new entrant Fox Business Network.

Daily Telegraph reports that the plan is for the channel to appear on both the internet and some form of cable or digital platform. The launch could be as early as January 2009 but may be pushed back as the company is conscious of Reuters' earlier unsuccessful foray into television.

Thomson Reuters, which is a merger of Reuters and the Thomson Corporation last year, wants an extra avenue through which to channel content and raise revenues. Thomson agreed in May 2007 to acquire Reuters, with a cash-and-stock offer that valued the 157-year-old news agency at £8.7bn.

The New York newsroom, which will act as the main studio for the channel, was opened yesterday.

In an internal memorandum, editor-in-chief David Schlesinger said the new newsroom was all about "multi-media opportunities."