Reliance Broadcast proposes JV with RTL
It has been informed that Reliance Broadcast Network Limited has proposed a Joint venture deal with Luxembourg-based RTL Group. Reliance Broadcast Network Limited was earlier known as Reliance Media Work Limited. RTL Group operates Radio stations and Television Channels in 10 countries for buying or operating television channels.
It is present in countries like Germany, France Netherland, and Spain. It is also expected Reliance is looking forward to tie up with some strong global players for their expansion strategy which can give them good international hold. Reliance had proposed for the Joint venture and has also filed an application for JV in Bombay Stock Exchange. The preposition which Reliance had put forward is to own and operate English, Hindi and other local language channel in the country with the provision of service and content also. In this JV both the companies will have equal equity and would act as shareholders. This venture of Reliance will not affect or would not create any conflict between Reliance and CBS Corp, USA. Reliance has already done a JV with CBS, USA.
