250 million LE to establish the first private Egyptian company for satellite channels

A group of Egyptian businessmen and artists started establishing the first private Egyptian company for a satellite channel with a capital of 250 million L.E.

The company's shares will be raised for subscription during June, and it is expected to start running the channels in October.

Hani Serour, agent of the establishers, said the company aims at running two channels-- one of which is general in coverage, while the other is to specialize in economic news-- and that the company included of a group of investors form 6th of October city and from Sinai, in addition to Egyptian businessmen, artists and information experts.