New York, Aug.19 (ANI): CBS Corp. has formed a joint venture with billionaire Anil Ambani's Reliance Broadcast Network to launch television channels in India.
Three English channels will start broadcasting in October 2010 and the venture would have programming rights across India, Nepal, Bhutan, Sri Lanka, Bangladesh, the Maldives and Pakistan, the companies said.
Viacom Inc., Time Warner Inc., Walt Disney Co. and News Corp. have already jumped into India's TV market, which is expected to grow at 15 percent a year to become a 11.4 billion dollar business by 2014.Television is the largest segment of India's entertainment industry, with revenues of 5.6 billion dollars in 2009, nearly three times what the much-hyped Bollywood film industry pulled in, according to KPMG.
Reliance Broadcast Network said it would be pairing its understanding of Indian entertainment and advertising preferences with CBS's expertise in producing content.
The channels will broadcast series such as "Hawaii Five-0," "The Defenders" and "Blue Bloods" as well as current CBS shows like "CSI" and "Entertainment Tonight" via cable or satellite. The joint venture will also look into owning or operating channels in Hindi. (ANI)