CBS makes deal in Indian market

Studios Intl. eye joint venture with Reliance Network

CBS Studios Intl. is moving into the Indian TV market in a joint venture with Reliance Broadcast Network, according to documents the two filed Saturday with the National Stock Exchange of India.

They intend to start out with pay TV entertainment channels in English and is seeking rights to Hindi and regional general language programming in India, Pakistan, Bangladesh, Sri Lanka and the Maldives.

The companies intend to take a 50-50 stake in the joint venture, according to documents filed by Gururaja Rao, Reliance VP legal and company secretary. News Corp.’s Star, Viacom 18, Time Warner and TBS operate in India.

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