IndianMascot
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Reliance Television Pvt Ltd (RTPL), a wholly owned subsidiary of Reliance Broadcast Network Ltd (RBNL), has bought out the 50 per cent stake of global media conglomerate CBS Studios.
With this purchase, RTPL has taken full control of Big CBS Networks. In 2010, RTPL had entered into an equally owned joint venture company with CBS and the entity was called Big CBS Networks.
Big CBS Networks has now been renamed Azalia Distribution & Television Pvt Ltd. After the termination of the agreement with CBS, Azalia has considerably scaled down its operations.
In the wake of all these developments, RBNL has made provision for Rs 30 crore ( Rs 300 million) in its account during the quarter ended 31 December 2013 for the loans and advances granted to RTPL. Being a wholly owned subsidiary of RBNL, RTPL had made investments in the step down entity, Big CBS Networks (now Azalia).
Though Azalia has trimmed down operations, the management is confident that on a need basis it can scale up.
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With this purchase, RTPL has taken full control of Big CBS Networks. In 2010, RTPL had entered into an equally owned joint venture company with CBS and the entity was called Big CBS Networks.
Big CBS Networks has now been renamed Azalia Distribution & Television Pvt Ltd. After the termination of the agreement with CBS, Azalia has considerably scaled down its operations.
In the wake of all these developments, RBNL has made provision for Rs 30 crore ( Rs 300 million) in its account during the quarter ended 31 December 2013 for the loans and advances granted to RTPL. Being a wholly owned subsidiary of RBNL, RTPL had made investments in the step down entity, Big CBS Networks (now Azalia).
Though Azalia has trimmed down operations, the management is confident that on a need basis it can scale up.
Wish to read further, ------------------------>