Pearls Broadcasting Corporation (PBCL), a new player in the Indian media industry, has announced that it envisages to make an investment between Rs 30-40 crore in 2009 with the aim to spread out its business in the eastern and southern regions.

PBCL, which introduced its Hindi news channel known as P7 this March in New Delhi, has already invested around Rs 40 crore into its P7 News channel.

PBCL functionaries stated in a communiqué that the company is searching options to set up new offices in eastern states like Orissa, West Bengal and parts of the North-East.

The sources informed that Rs 8 crore has been spent by the company for introducing its operations.

The sources further informed that P7 has inked partnership deal with major cable networks such as Incablenet, Hathway Cable and Datacom, Scod18 and Wire & Wireless India Ltd (WWIL).