Menon told eFE that instead of ``holding on to a single baby,'' the company was considering foraying into various business ventures in India, Russia and the Gulf regions in the areas of telecasting, portals and computer education and training. The company would invest around Rs 40 crore in the portal business alone, he said.

Menon said his firm was in ``exploratory talks'' with Imax Corporation officials in Singapore to acquire an existing TV service company with a capacity to run 500 channels.

The deal was likely to be finalised during the impending India visit by a top Imax official. The channels -- on education, entertainment and special effect-based programmes -- were expected to hit the air early next year, he said.

On the portal front, Menon said, ``We are planning to introduce a horizontal portal which would have 40 or more vortals on education, entertainment, medical assistance, etc.''. The portal was expected to be up by the end of the year, he said. Menon said the company was also in talks with the promoters of three portals (on banking and finance) in Mumbai and Hyderabad to acquire the content.

The company was planning six to eight news channels in Malayalam, Tamil and Kannada which would hit the air by the end of the calendar, he said.

Menon said he was looking at launching more FM channels in the Gulf and one in Russia. The company already runs an AM radio channel in the Gulf under the Asianet brand.

Menon Impex also has plans to enter the computer training and education segment with an initial focus on Kerala. To this end, the company was currently in talks with Bharatiya Vidya Bhavan in Mumbai for ``a role model'' which could be adopted in the state. On funds, he said, ``We will also be talking to NRIs to raise funds for the scheme,'' he said.

Menon Impex Group has diversified interests in pharmaceuticals, automobile equipment and import and export of various commodities.

Asianet earlier had plans to go in for an IPO to raise Rs 100 crore from the market. However, with Zee TV's involvement in its business, it has decided to drop the IPO plan, Menon said.