Reliance Broadcast Network will acquire Imagine Showbiz Limited (ISL) from Cinestar advertising for an undisclosed sum.
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.
At the start of the auction on Sunday, Punjab Kings had the highest funds at Rs 110.5 crore, which decreased to Rs 10.9 crore before Day 2 on Monday.
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.
This deal will make Music Broadcast, which currently operates 39 channels, the largest private FM Channel operator.
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Among other scrips, which would be shifted to the trade-to-trade segment include 3i Infotech, Bartronics India, Ramky Infrastructure and Zenith Birla (India) Ltd.
Demerging print and TV news businesses will allow for separate investment by interested players.
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Markets ended flat on Tuesday, amid a volatile trading session, as investors exercised caution ahead of the two-day FOMC meet starting today and Reserve Bank of India's monetary policy later this week.
'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.
The voyeurism and poor taste on display in the reportage of the murder case involving Mukerjea's wife reflect the mindset of the society we live in and the media we are exposed to
In its bid to grab eyeballs in the regional space, Big Magic rebrands channel, sets up production unit in Patna
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