Anil Ambani owned, Reliance Broadcast Network Limited (RBNL) has formally announced a joint venture with European entertainment network RTL, part of the German multinational media company, Bertelsmann. Both companies will have an equal 50% equity interest in the limited liability JV company. RBNL and RTL had been negotiating terms for the JV since March 2011.
RBNL intends to expand its offering of niche English channels, by launching a reality TV channel with international content from RTL’s production arm Fremantle Media, and a channel targeting male audiences, featuring action-themed content. Fremantle produces popular reality shows and owns formats for multi-national reality series including Idols, Got Talent, The X Factor, Good Times – Bad Times, among others.
RBNL, which also has a 50:50 JV with American broadcaster CBS, offers three english language channels with content from CBS, namely BIG CBS Prime, which features prime time shows; BIG CBS Love, which features shows for women; and BIG CBS Spark, a Youth centric channel.
In addition to these channels, RBNL had recently launched a regional entertainment channel, Big Magic, targeting audience in the Hindi speaking regions of the country.
Financial Results
The company did not report quarterly results, separately. However, according to a press release, sent by the company, RBNL registered revenues of Rs 71 crore in the quarter ended 31st March 2011, up by 30%. It also informs that its Radio operations witnessed a 25% increase in revenues, closing at Rs 47 crore, and Radio operations remain EBIDTA positive at Rs 9 crore. Its intellectual property revenues grew by 240% to Rs. 15 Cr with 8 properties.
The board of directors of the Company decided to close the books of accounts on March 31, 2011 and restricted the current financial year which commenced on October 1, 2010 to six months. Due to this reason, we cannot compare annual results for this year with the previous year. During the six months, RBNL reported a total income of Rs 141 crore and loss of Rs 24.24 crore, at a consolidated level.
Related:
– Reliance Broadcast In Talks With Fremantle Parent For Channel JV
– Reliance ADAG & CBS JV BIG-CBS To Launch 3 Channels By Year End
