MUMBAI: RTL Group, the European Entertainment Network which is part of Bertelsmann AG, and Reliance Broadcast Network Limited have inked an agreement to launch thematic television channels in India through an equally owned, joint venture company.
The joint venture company will be a limited liability company, incorporated in India. RTL Group and RBNL (through its subsidiaries) will act as shareholders with an equal 50% equity interest in the joint venture.
The initial scope of the 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 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 focusing on the reality and action genres, will address a clear void in international entertainment programming that currently exists in India.
RBNL CEO Tarun Katial said, “This joint venture brings the Europe’s leaders into India and Reliance Broadcast Network is proud to be at the core of creating a revolution in the Indian English entertainment space. We are committed to offering audiences unprecedented international television content, and RTL Group’s, extensive library and lineage compliment the partnership perfectly. The synergies, values and visions that both Companies share, will allow this joint venture to offer value to audiences and marketers alike.”
RTL Group executive vice president regional operations & business development Central and Eastern Europe Andreas Rudas added, “RTL Group believes strongly in the Indian market – a market with a young population which loves TV and impressive potential for further growth. We are thrilled to have such a strong local partner as Reliance Broadcast Network for our first broadcasting venture in Asia.”
