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Anil Ambani’s Reliance Broadcast Network (RBN) said it has completed its final negotiations with US’ CBS Studios, to form a JV to own and operate TV channels in the country.

Reliance Broadcast Network, previously known as Reliance Media World, will form a 50:50 joint venture with CBS Studios, a division of CBS Corp, the company said in a filing to the Bombay Stock Exchange.

The JV will own and /or, operate, market and promote a portfolio of television channels in India, Nepal, Bhutan, Sri Lanka, Bangladesh, the Maldives and Pakistan.

With RBN’s multimedia presence and integrated sales offerings, combined with the content muscle of CBS, BIG CBS stands to bite into a sizeable slice of India’s burgeoning TV industry.

“The JV will, at start, see the creation of 3 new English entertainment channels, customised for the Indian market offering audiences immediate access to new and current CBS programs,” it said.

The joint venture will also explore Hindi and regional language general entertainment channels in the next phase.

RBN operates India’s largest radio network (92.7 Big FM) and is into outdoor, promotions and events.Anil Ambani’s Reliance Broadcast Network (RBN) with a joint venture with US’ CBS Studios is all set to launch three English, General Entertainment Channels (GEC) in India with an aim to roll out multiple television channels in the country.

The joint venture is called the Big CBS Networks and will target the English-speaking audiences in India. The three channels such as BIG CBS Prime, a premium English general entertainment channel, BIG CBS Spark. While BIG CBS focuses on the youth and Love, an English entertainment channel is meant for women.

According to Tarun Katial, CEO, Reliance Broadcast Network, the English GEC space is long way to go from the ground level in the market. But the move targets at an upper SEC audience for the good response.

As the R26, 000 crore television market in India always extends its hand for booming, the three channels from RBN and CBS Studios will be paid on the subscription-based growth to be available for other DTH players along with Reliance-owned DTH Company.

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This post was submitted by rishi maurya.

Thanks to www.breakingnewsonline.net