Sign up for afaqs! Newsletters
Reliance Broadcast to launch two new channels
RBNL has entered into a joint venture with the Luxembourg-based media company RTL Group.
Reliance Broadcast Network (RBNL) plans to launch two new channels post its joint venture (JV) agreement with the Luxembourg-based media company RTL Group.
RBNL also plans to launch an action channel targetted specifically at the urban male - similar to AXN. RTL owns a channel RTL7 in the Netherlands, which is aimed at males in the age group of 20-49, and has shows such as The A-Team, Married with Children, and The Knightrider.
The Anil Ambani-owned Reliance Broadcast Network (RBNL) has informed BSE that it is entering into a 50:50 JV with the Luxembourg-based RTL Group, a European television and radio network to launch a series of television channels in India.
The RTL Group has 40 television channels and 33 radio stations across Europe.
This JV with the RTL Group will be similar in nature to that of RBNL with the US-based CBS group. And, this JV will be an independent company, non-conflicting and non-competing with the JV RBNL has with CBS.
RBNL informed BSE in a communique that once the negotiations with respect to the JV are successfully completed, "the business of the JV will initially include content and services provision in relations to and owning and/or operating a bouquet of channels in India," says the communique.
RBNL and RTL have, as of now, signed the preliminary, non-binding term sheet. The companies aim to complete the formalities within the next four months.