Reliance Broadcast Network Ltd (RBNL) on Friday said that it planned to form an equal joint venture with Luxembourg-based RTL Group SA mainly for owning and operating television channels in India.
The joint venture will initially look to provide content and services and also plans to own and operate English, Hindi and local-language television channels in the country, the company said in a regulatory filing.
The statement didn’t provide any financial details of the joint venture.
The initial scope of the investment would include a reality channel with international content, mainly from RTL Group’s production arm FremantleMedia and a channel targeting male viewers with action-oriented content, the company said.
Both channels would mainly target urban populations in the country it added.
It may be recalled that in August 2010, the company had finalised a similar pact with a division of US media company CBS Corp to launch television channels in India.
Reliance Broadcast, part of the Reliance ADA Group, said that its joint venture with RTL would be independent and would not conflict or compete with its existing joint venture with CBS.