RBNL recasts broadcast play, ends jv with CBS

16 Jan,2014

By A Correspondent

 

Reliance Broadcast Network Limited has issued a statement on the recast of its broadcast portfolio and consequently the dissolving if the joint venture with CBS Studio International. This follows unconfirmed reports that the Reliance ADAG group firm had shuttered the three channels operating as part of the CBS jv.

 

The Company has issued a statement to this effect. “Reliance Broadcast reorganizes and recasts strategy for it’s broadcast portfolio, with increased focus on local and original content along with IPs. The priority being flagship brands 92.7 Big FM, Hindi GEC Big Magic and regional foray with BIG Magic Bihar and Jharkhand.”

 

“Radio continues to be the growth driver and will further benefit from the upcoming Phase 3 FM radio auctions. Similarly, Big Magic has successfully increased its footprint across the Hindi speaking markets demonstrating over 200% viewership growth in the last three months, and is gearing to fortify its position in the Hindi entertainment space. These also offer complimentary offerings to our advertisers and synergies in content and promotion,” the statement continues adding that the company has reviewed its portfolio of niche English Channels and the JV with CBS Studios International. Reliance Television Private Limited, a wholly owned subsidiary of Reliance Broadcast Network Limited and CBS Studios International have mutually decided to dissolve their Joint Venture, the statement added.

 

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