Reliance Broadcast to start English channels with RTL Group
30 May 2011
ADAG group company Reliance Broadcast Network has tied up with Europe's biggest television broadcaster, RTL Group, owned by Bertelsmann AG, to start two English channels in India.
RTL and a subsidiary of Reliance Broadcast will float an equal joint venture that will introduce two English-speaking "thematic TV channels" - a reality channel with content, mainly from RTL Group's production arm FremantleMedia, and a channel primarily targeting male viewers with action-oriented content.
For RTL, this venture will mark its maiden entry in the Asian television market. Reliance Broadcast already has a joint venture with CBS Studios International.
According to RBN CEO Tarun Katial, CEO, Reliance Broadcast Networks, the joint venture would bring Europe's leaders into India and offer audiences unprecedented international television content.
"We are committed to offering Indian audiences unprecedented international television content, and RTL Group's extensive library and lineage compliment the partnership perfectly," Katial said in a company statement.
Andreas Rudas, RTL Group executive vice president, regional operations and business development for Central and Eastern Europe, said "the Indian market with a young population that loves TV has impressive potential for further growth."
Bertelsmann, the holding company of RTL Group, claims to have investile surplus of as much as 1 billion euros ($1.4 billion) for acquisitions after providing for debt reduction associated with the 4.5 billion-euro stake purchase that brought full control of Bertelsmann back to the Mohn family.
The RTL-Reliance joint venture will have to compete with established rivals such as Rupert Murdoch's News Corp and the numerous local channels for vw\iewership.
