Reliance Broadcast Network will acquire Imagine Showbiz Limited (ISL) from Cinestar advertising for an undisclosed sum.
BIG RTL, the joint venture between Reliance Broadcast Network Ltd and European entertainment network RTL Group, is planning to launch its first channel, BIG-RTL Thrill, on November 5.
RTL is part of Europe's largest media firm, Bertelsmann AG, and has a market cap of $15.5 billion (Rs 69,900 crore).
Reliance Broadcast is building a curious network of English and regional channels.
The government has cleared 19 foreign direct investment projects worth Rs 4,340 crore, including that of Tata Steel and Future Ventures.
Anil Ambani-led Reliance Broadcast Network Ltd (RBNL) today announced its foray into the regional television space with the launch of its Hindi entertainment channel - Big Magic. The channel, which will be targeted at the core Hindi heartland, will be launched on April 4.
Both signed a non-binding deal on Sunday.
Anil Ambani Group firm Reliance Broadcast Network on Wednesday said it has completed its final negotiations with US media conglomerate CBS Corp to form a JV to own and operate TV channels.
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
Demerging print and TV news businesses will allow for separate investment by interested players.
'We should become an all-encompassing entertainment and information destination," says chairman Subhash Chandra, who monitors the group on a monthly basis, leaving the day-to-day operations to the chief executive officers.
In its bid to grab eyeballs in the regional space, Big Magic rebrands channel, sets up production unit in Patna
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