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| Edited By: |Source: DNA |Updated: Mar 30, 2018, 03:01 AM IST
Anil Ambani’s television channel foray is finally taking concrete shape.
The group’s listed entity, Reliance Media World Ltd (RMWL) is in discussions with US-based CBS Corp for a joint venture to launch general entertainment channels in India.
Reliance Media spokesperson refrained from commenting on the development. An email query sent to CBS Corp’s New York office remained unanswered.
RAWL recently announced its annual results stating operations continued to remain Ebitda positive in Q4. The company reported a total income of Rs 180 crore for FY10, with radio Ebitda at Rs 1.88 crore. It reported a loss of Rs. 76.13 crore at the net level, attributed mainly to debt servicing cost, depreciation and amortisation.
Towards end of 2007, Rajesh Sawhney, president of Reliance Entertainment Ltd, had expressed intentions of building a team and launching two television channels in 2008.
However, the global financial meltdown shattered all expansion plans by media companies and Reliance’s TV foray fell prey to it as well.
