Reliance Entertainment Plans 20 Channels, 8 Websites Including Job Portal, Classifieds
By Nikhil Pahwa - Thu 13 Mar 2008 02:22 AM PST
Maybe this is the BIG announcement that Rajesh Sawhney had told us about - Reliance Entertainment is going to launch two separate companies - Reliance BIG TV News and BIG TV Entertainment, which set up around 20 TV channels, reports Mint. The story also mentions that the group plans to lauch eight new websites - including a Job portal and a general classifieds portal. ContentSutra has already reported that a Maps portal is being developed - Bigmaps.com. Any guesses on which the others are? (note: we also have an anonymous tip-off box on the left, should you wish to use that)
Readers should note that the News business has been separated from the Entertainment business, probably because of the 26 percent Foreign Direct Investment limit on News channels. So it wont surprise us if they raise funds separately; there’s also the possibility of a strategic investment from a foreign news channel for BIG TV News. Reliance ADA Group apparently has investments worth Rs. 952.09 crores in other media and entertainment companies, but I think these are financial investments via Reliance Capital’s Media and Entertainment Fund. More on the TV plans in Mint.
Posted in: Companies, ADAG, Reliance Entertainment
