Reliance, CBS joint TV venture

Reliance Media World plans to enter into a joint venture with CBS Studios International to own and operate a portfolio of television channels in India.

The venture—in which Reliance Media World and CBS will own equal stakes—initially will broadcast English language general entertainment channels. The companies plan to explore Hindi language and regional-language entertainment channels in its next phase.

The two companies have signed a preliminary, non-binding term sheet and are currently in negotiations for setting up the proposed venture.

The venture marks Reliance Media World’s entry into the television-broadcast space. The company, part of the Reliance ADA Group, currently has operations in radio, marketing and advertising.

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