New Delhi-based business TV channel CNBC-TV18 is on a recruiting spree and plans to employ a 'substantial' number of reporters and anchor staff in its proposed Hindi venture, which is likely to be rolled out in sometime in 2004.

The company would recruit people for Mumbai and Delhi bureaus and for those slated to come up in Hyderabad, Ahmedabad, Chennai and Kolkata.

In line with its focus of providing stock markets and economic news, CNBC-TV18 is moving its broadcasting base to Mumbai and is expanding infrastructure, even as it started shifting editorial personnel to the city.

"As Mumbai is the business capital of the country and the channel focuses on stock markets and business news, it makes sense to make the city the hub of the company's operations," CNBC-TV18 chief executive officer Harsh Chawla said in Mumbai on Sunday.   

However, a formal announcement would be made after finalising the minute details of the shift.

The company has also transferred certain top editorial staff to Mumbai and expects the proximity to the bourses to help in providing content faster.

The channel would continue to maintain its studio and existing operations in Delhi and uplinking of content from Delhi would continue.

Under its expansion plans, the channel is planning to add more studio floors, which are also expected to support its proposed Hindi channel.

The broadcaster is also planning to launch a Direct-to-Home (DTH) channel for Non-Resident Indians (NRI) around the world, with focus on both business news and entertainment content, even though a date is yet to be finalised.

The new channel would broadcast business, general, political, lifestyle and feature news and is expected to be launched by the end of 2004.