To launch two channels by the end of this fiscal where both partners will invest in equal amounts.
BestMediaInfo Bureau | Delhi | July 22, 2011
RTL Group S.A. and RTL Group Beheer B.V. (“referred to as RTL Group”) i.e. the leading European Entertainment Network which is part of Bertelsmann AG, gets green signal from Foreign Investment Promotion Board (FIPB) for its proposed Foreign Direct Investment for its television joint venture with Reliance Broadcast Network Limited (through its subsidiary/ies).
BIG SHOWBIZ BROADCAST LIMITED (formerly known as Imagine Showbiz Limited) “referred to as BIG SHOWBIZ” i.e. the proposed Joint Venture Company between Reliance Broadcast Network Limited(through its subsidiary)and RTL Group had applied for an approval from FIPB and FIPB at its meeting held on July 6, 2011 had approved the proposal of Foreign Direct Investment by RTL Group upto an extent of fifty percent of the post-issue share capital of BIG SHOWBIZ which is currently engaged in uplinking and downlinking of Non-News and Current Affairs Television Channels.
The Joint Venture Company proposes to launch two thematic television channels in India. The Channels are scheduled to be launched by the end of this fiscal where both partners will invest in equal amounts.
The Joint Venture plans to leverage RTL Group’s production arm – Fremantle – to deliver cutting edge global entertainment formats – aimed at the international entertainment seeking, discerning Indian audience. With this launch, Reliance Broadcast Network Limited will fortify its presence in the Television business with a repertoire of 6 television channels, while offering Indian audiences a vast canvass of international content from both CBS and RTL Group.
With a market cap of 15.5 bln USD, RTL Group is the No.1 in TV and Radio Broadcasting in Europe, with 40 Channels and 31 radio stations spread across 10 countries. They area also global leaders in content production with 9,500 hours of TV programming per year across 54 countries, more than 300 programmes on air or in production worldwide and produces number one primetime shows for major broadcaster in almost every major TV market in the world. With more than 20,000 hours of content selling in over 180 countries globally, RTL Group also offers services across multiple platforms, including consumer products, live events, gaming, mobile, online and social media.
This joint venture marks RTL Group’s entry into the burgeoning Asian television market and Reliance Broadcast Network’s second international joint venture, following suit to its joint venture with CBS Studios International. The joint venture channels, one focusing on reality and the second focusing on action genre, will address a clear void in international entertainment programming that currently exists in India.