National NEWS
Reliance Media, CBS Corporation to Jointly Launch Entertainment Channels
May 31, 2010 Visionmp.com news service
Anil Ambani-owned Reliance Media World is going to start an equal joint venture with iconic American media company CBS Corporation to launch a network of television channels under the brand BIG CBS, said media reports.
The two companies agreed on the venture and are likely to announce in the regard this week, reports said.
Rules put no cap on foreign investment in TV channels, except news. Reliance Media World is a Mumbai-listed company.
According to reports, the joint venture will become operational from January next year and a slew of channels be launched.
The venture will start with the channels featuring syndicated content from CBS, which owns several hit shows such as NCIS, The Young and the Restless, CSI and America’s Top Model, as well as sitcoms such as Two and a Half Men, said reports.
Also, Hindi entertainment channels will be launched under the joint venture, as the field generates most ad revenues, reports said.
The company will launch movie channels as well as regional entertainment channels, but won’t enter the news space, said reports.
(Based on internet reports)
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