MUMBAI: Reliance Broadcast Network, part of the Anil Dhirubhai Ambani Group (ADAG) has signed an initial agreement for an equal joint venture with US-based CBS Corp to launch television channels in India. The agreement is expected to carried out within the next one month.

The JV will roll out English language channels and will also be looking at launching regional language general entertainment channels (GEC) at a later date. However, according to information available with Businessofcinema.com, a Hindi movie channel is not on the cards. It may be recalled that Reliance recently sold a handful of its movies’ satellite rights to Colors.

“The agreement is subject to customary diligence, negotiation and execution of a definitive documentation, which are presently underway,” the company said.