Wednesday, August 18, 2010

BIG CBS Networks Pvt. Ltd.: A new joint venture between Reliance and CBS

On August 18, 2010, Reliance Broadcast Network (RBN), a subsidiary of Reliance Anil Dhirubhai Ambani Group, announced that it completed a negotiation with the U.S. based CBS Studios, a division of CBS Corp., to create a joint-venture named BIG CBS Networks Pvt. Ltd., for operating television channels.

In a filing submitted by RBN at BSE, it said that BIG CBS Networks Pvt. Ltd. would be a 50:50 joint venture between RBN and CBS Studios. The new organization would operate, market, and promote various television channels in the South Asian region including Nepal, Bhutan, Sri Lanka, Bangladesh, the Maldives and Pakistan.

It also said, "The JV will, at start, see the creation of three new English entertainment channels, customised for the Indian market offering audiences immediate access to new and current CBS programs,"

BIG CBS Networks Pvt. Ltd. will showcase channels in Hindi and entertainment channels in regional languages in the next phase.

With the market presence of RBN coupled with CBS’s top-class TV content, BIG CBS intends to cover a big market share in the rising television industry of India.

BIG CBS Networks Pvt. Ltd. is the first foray of Reliance group into the television industry of India. Aside from Reliance, CBS also have some other joint-venture projects in India.

No comments:

Post a Comment