Reliance Broadcast Network (RBNL), through its wholly owned subsidiaries has completed final negotiations with RTL Group S.A. (RTL), a company incorporated in Luxembourg and executed the joint venture (JV) agreement in connection with owning and/ or operating a bouquet of several English language thematic channels in India through an equally owned JV company, which will be a limited liability company incorporated in India.
The company and RTL will have an equal participation through 50:50 investments in the JV Company. This investment is subject to obtaining clearance from the concerned regulatory authorities.
The initial scope of investment will include two English-speaking thematic TV 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 JV marks RTL Group’s entry into the burgeoning Asian television market and RBNL’s second international JV with CBS Studious International.
