Reliance Broadcast signs pact with European firm for TV channels

Monday, 30 May 2011, 10:46 Hrs
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Mumbai: Reliance Broadcast Network Limited (RBNL), part of the Anil Dhirubhai Ambani Group (ADAG), said that it has signed an agreement with Luxembourg-based RTL Group for offering a bouquet of English TV channels in India.

"Reliance Broadcast Network through its subsidiaries and RTL will have an equal participation through 50:50 investments in the joint venture," the ADAG firm said in a regulatory statement.

The venture initially will come out with two English-language channels -- a reality channel with international content, mainly from RTL Group's production arm FremantleMedia, and a channel primarily targeting male viewers with action-oriented content.

"This joint venture brings Europe's leaders into India and Reliance Broadcast network is proud to be at the core of creating a revolution in the Indian English entertainment space," said Tarun Katiyal, chief executive of RBNL.

"We are committed to offering audiences unprecedented international television content and RTL group's extensive library and lineage compliment the partnership perfectly," he added.

This is Reliance Broadcast Network's second international joint venture after its partnership with CBS Studios International and marks RTL Group's entry into the Asian television market.
Source: IANS
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