Dev told The Financial Express that the company had already pumped in Rs 120 crore into Sahara TV while the rest of the funds would be used in floating a series of regional channels both in India and overseas.The funds would be raised internally, he said.

On the overseas plans, he said the company was currently in talks with a couple of local players in Canada, UK, Africa and Europe. ``We are in the advanced stages of negotiations and the deals will be finalised soon,'' he said.

Dev said in terms of financial involvement, Sahara Pariwar would not make any substantial investments oveseas while the local partners would hold a large size of equity in Sahara Pariwar.

Sahara TV's Canada and London channels were expected to go on air by the end of the calendar while the US and African channels would be up by the end of the fiscal, he said.

Overseas channels (primarily Hindi) were expected cater to the Indian community in the respective geographical areas, Dev said.Sahara TV was also looking at launching two more regional channels-a mixed channel, Hindi, English and Urdu-in India within a year. ``All our domestic operations will be 100 per cent owned by us,'' he said.

Prior to the launch of domestic channels, the company was currently in the process of conducting a survey to decide on the content and the appropriate time of the launch, he said.

Sahara TV, which had went on air on March 28 had already achieved a 50 per cent penetration in the cable & satellite homes in the country, Dev claimed. ``We are targeting to reach 100 per cent C&S homes within two months,'' he said.

Dev said the channel would introduce a slew of new programmes during this month involving celebrities from various fields including art, music and movies.