TV channel on cable would have similar licensing and the policies as that of the satellite channel. The broadcasting license and the preliminaries need to be filed out. There is also going to be a license for the music and the movies being played. You can find that such licensing also requires some compliance.
Apart from the broadcasting and other compliance, your local compliance for business also applies. You'd have to register as a business organization. Have some local documentation to be taken care of. You'd need to also have some responsible person to talk to in case of the content on your channel.
Total expenses for starting the cable channel would be relatively low considering the amount of money goes for compliance. It is lower for installation cost too which you are taking care of with existing cable network.