Reliance Entertainment Pvt. Ltd, the media and entertainment arm of the Reliance Anil Dhirubhai Ambani Group (R-ADAG) is all set to launch 20 TV channels in the country.
The above move is a part of its plans to expand the reach in the fast-growing broadcast entertainment business.
The Rs 130-billion Reliance Entertainment Ltd has interests in the production, distribution and exhibition of films, besides foraying into FM radio, Internet and television content.
The firm plans to launch two new companies with the name of Reliance Big TV Entertainment Pvt. Ltd and Reliance Big TV News Pvt. Ltd.
Under the proposed plan, the news broadcasting company will launch 4 channels: two general news channels and two business news channels, one each in Hindi and English in both genres. While, the non-news broadcasting company will launch music and movie channels, 5 general entertainment channels, and dedicated channels focused on children and lifestyle.
The company has already applied for mandatory approval of these channels from the information and broadcasting ministry.
The company is scheduled to launch the Hindi general entertainment channel and 3 regional movie channels by August, this year.
Further, the company also plans to launch eight new websites - including a Job portal and a general classifieds portal.
Last month, the firm had announced that its investor George Soros had picked up a 3% stake in it for Rs 395 crore, giving Reliance Entertainment a valuation of Rs 13,035 crore.
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