wordpress blog stats
Connect with us

Hi, what are you looking for?

Reliance Capital to sell FM & TV business to Zee Media for $283M


Reliance Broadcast Network Limited (RBNL), the radio and broadcast business subsidiary owned by Anil Ambani’s Reliance Capital is selling 49% stake of its radio business to Zee Media Corporation Ltd, according to the company’s filing with stock exchanges. Simultaneously, Zee Entertainment Enterprises Ltd (ZEEL), a separate entity under Zee Media will also acquire 100% stake in RBNL’s Entertainment and TV business. Both transactions have been valued at at Rs 1,900 crore ($283 million).

RBNL and Zee Media have signed “definitive binding agreements” for the deal after receiving approvals from board members of both companies. It is now pending shareholders and other regulatory approvals. Reliance Capital will use the proceeds from the sale to cut its internal debt and reduce additional debt in “non-core business of media and entertainment.”

RBNL currently runs a network of FM Radio channels under the brand name of 92.7 Big FM, which is currently live in 45 cities, 1200 towns and claims to have nearly 43 million listeners per week. RBNL will  be transferring 5 operational and 14 new FM channels into two Special Purpose Vehicles (SPVs), and Zee Media shall acquire a 49% stake in each of these two SPVs. Note that both companies shall also have a call/put option for the balance 51% stake in both the SPVs after the stipulated lock-in period .

Reliance’s TV channels including Big Magic (Hindi Comedy Genre channel) and Big Ganga TV (Bhojpuri channel) will be merged into Zee Entertainment. According to Zee Media, the acquisition will help complement its news and current affairs TV channels, by targeting the larger radio audience base and engaging TV viewers on a different platform.

Dish TV, Videocon merger

Advertisement. Scroll to continue reading.

In this month, the Indian broadcast industry observed one of the biggest consolidations: DTH operators Dish TV and Videocon D2H signed a definitive deal to merge their operations into a single entity. The transaction is expected to be completed by second half of 2017. Dish TV will own a majority of 55% stake, while Videocon will have the remaining 45% in the combined entity, called Dish TV Videocon Limited.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...


By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ