Star sources said that the other two stakeholders Sony and EMI are to maintain their holdings at existing 12.5 per cent each by picking up fresh equity in the capital expansion programme.

Channel V officials, however, refused to comment on the subject but admitted that the channel plans to pump in more funds as part of its business plan.

Channel V has also scored a point by digitalising its service which has helped the channel in reducing its cost substantially, sources said. As the channel is being marketed along with Star Movies and Star Plus, its reach is currently on the rise, they added.

The channel is getting ready for its mega-event of the year Channel V Music Awards to be held at Jawahar Lal Nehru Stadium, New Delhi, on November 21.

Thestar attraction for this year's awards would be Robert Sting, Aqua, Def Leppard and 911-The Boys on a `Journey'. Last year, the Channel V Awards featured big-wigs such as Spice Girls and Jon Bon Jovi.

Indian performers like A R Rahman, Sonu Nigam, Shiamak Davar, Lucky Ali, Kamaal Khan, Silk Route and Daler Mehndi would feature in the viewers' choice category.

The channel has roped in Coca Cola as the main sponsor for the event while, its associate are Taj Mahal Tea Bags, Killer Jeans, Rexona Deodorent, and Philips.

The total budget for the Channel V Music Awards is expected to exceed what was earmarked for the last year's award by 17 per cent. In 1997, Channel V's budget for the event was approximately $1 million.

Channel V's general manager (India) Jules Fuller said that the channel would continue with its mix of Indian pop and international music which gives it an opportunity to offer a greater span to the viewers.

He, however, said that channel is continuously reworking its image so as toaccommodate the sensibility of the country.

On the subject of reach after digitalisation, Fuller said that though it may go down in some of the rural areas but, the overall position will substantially improve.