In a major expansion of its interests into Asia, Europe's largest broadcasting company, the RTL Group is planning to set up a 50/50 joint venture with Reliance Broadcast Network Ltd. At this point, the two companies have signed a preliminary, non-binding term sheet but if the deal is completed, the proposed joint venture would lead to the launch of thematic channels in India and give the joint venture access to content from RTL Group's production arm FremantleMedia.
The joint venture would bring together a powerhouse in the European market with one of India's leading media and entertainment players.
With 40 television channels and 33 radio stations in ten countries, RTL Group is European largest broadcasting group, reaching some 200 million viewers all over Europe. RTL's FremantleMedia, which owns such formats as Idols, Got Talent and Family Feud, is also one of the world's leading creators of television programming, producing some 9,500 hours of prime time fare each year in 57 countries.
Reliance Broadcast Network is part of the Reliance Group and is a major player in the multichannel TV, radio, out of home and live entertainment sectors in India.
In addition to the plans for a joint venture with RTL, Reliance has a joint venture with CBS Studios International. As part of that deal, Reliance and CBS have already launched BIG CBS Prime, a premium general entertainment channel and are planning two others, BIG CBS Love and BIG CBS Spark this month.