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 ventureâ€”in which Reliance Media World and CBS will own equal stakesâ€”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.