Pact includes two channels, content deal
The decks have been cleared for the TV joint venture between Indian conglom Reliance and the RTL Group, a division of German giant Bertelsmann.India’s foreign investment promotion board has approved RTL’s $18 million investment. Reliance will match that figure through subsid Big Showbiz Broadcast. The equal joint venture, announced in March, will use RTL’s production arm FremantleMedia to make global entertainment formats available to Indian audiences via a reality channel and an action channel. The channels “will address a clear void in international entertainment programming that exists in India,” the companies said in a statement. RTL has 40 TV channels and 31 radio stations across 10 European countries. Reliance has a license to operate 20 TV channels in India. Last year, it entered into a joint venture with CBS to launch three channels.