Anil Dhirubhai Ambani Group (ADAG) is set to enter the television broadcasting space. Reliance Broadcasting Network (RBN), will form an equal (50:50) joint venture with US media conglomerate CBS to own and operate TV channels. The deal will be completed within a month. With this JV, the biggest TV broadcast network company of the US will enter the Indian market. CBS Corporation has a market capitalisation of $11 billion and is credited with developing hit shows like ‘Two and a Half Men’, ‘Young and the Restless’, ‘America’s Next Top Model’, ‘The Oprah Winfrey Show’, ‘Judge Judy’, and ‘Entertainment Tonight’.
The ADAG statement said the business of the JV company will initially include English language general entertainment channels and it will explore owning and/or operating Hindi and regional languages general entertainment channels in the future.
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