March 2010
News    |   New Media   |   Advertising   |   Communications   |   Films   |  Events

ADAG in Rs 500 Cr TV deal with US firm

New Delhi: Decks have been cleared for Reliance ADA Group’s Rs 500-crore big ticket entry into the broadcasting space. The Reliance ADA group has signed a preliminary, non-binding term sheet with the US-based television firm CBS Studios International for the television foray.

Under the proposed agreement, Reliance Broadcast Network (RBN) and CBS will own and operate a bouquet of English, Hindi and regional channels. The proposed joint venture will see a combined investment of $100 million (around Rs 500 crore) over next five years.

RBN and CBS are expected to sign the joint venture agreement within a month. The two companies will have 50:50 partnerships in the proposed joint venture company.

“It will be an Indian company and will have programming rights of CBS across India, Nepal, Bhutan, Sri Lanka, Bangladesh, the Maldives and Pakistan for now, and which could see further geographical spread on mutual consent,” RBN executive said.

Reliance Big Broadcasting already holds valid licence to operate around 17 non-news television channels under the brand name 'Big' while it is awaiting clearance of 32 news channels from the information and broadcasting ministry.

It is not clear whether the news business of Reliance ADA group will also come under the proposed joint venture with CBS. However, the broadcasting business of Reliance ADA group will be handled by RBN formerly known as Reliance Media World, the Anil Ambani’s radio, and outdoor arm.

Reliance Media World changed its name to Reliance Broadcast Network last week. The proposed joint venture will initially include English general entertainment channels. Subsequently, both parties will explore owning and operating Hindi and regional general entertainment channels in the future, a company executive said.

According to sources, RBN will be responsible for the marketing, advertising and sales of the proposed joint venture while a large chunk of content will be provided by CBS.

Exporters seek fixed rate to face European crisis

New Delhi: Caught off guard by recent appreciation of the rupee, particularly against the euro, the majority of the exporting firms surveyed by FICCI want the Reserve Bank to peg a fixed currency exchange rate.

They took a cue from China, which has pegged a fixed rate of yuan against the US dollar. “At least for exporters, the central bank should give a facility like that in China of a fixed exchange rate. This would enable them to focus on managing their business and save them from the trouble of managing currency movements,”...


  Online edition
  News analysis
  Opinion – All Opinion
  • Letters to the editor
  • Corresspondents Diary
  • Debates
  World Politics - World   This Week
  Special Report
  Business- This Week
  • Leadership and Change
  • Executive Education
  • Marketing & Innovation
  • Strategic Management
  • Politics and Public Policy
  • Human Resources
  • Business Ethics
  • Innovation and Entrepreneurship
  Special Sections
  Books & Art
  City Briefings
Privacy Policy | Terms & Conditions | Subscribe
Copyright © Conversations Online 2010. All rights reserved.
About Sponsorship :
Selected sponsors provide financial support for parts of in return for the display of their name, logo and links to their site(s) on those sections. Conversationsonline retains full editorial control, giving no sponsor any influence whatsoever over any content, including choice of topics, the views expressed, or the style of presentation of any content.