I prefer not to do so(converting to 2nd GEC).
Look at Malayalam, Asianet has a huge monopoly and they revamped Asianet Plus to a GEC, but failed. Vijay Super, Maa Gold(2 big markets) also slowly went away from entertainment genre. And Kannada is the most poor performing market of Star, their flagship itself is average. So this will be an inappropriate decision.
Tamil,Telugu, Malayalam and Bangla- Better performing market for Star than Kannada. But here all either 2nd GEC attempts failed or not attempted.
Better to follow Vijay Super(from GEC to silently movie channel, then officially revamped to a 24 hr movie channel and became successful).