CEO Tarun Katial said this is the right time to raise prices and was done to correct audience position in some of the key markets like Delhi and Chandigarh.
Tarun Katial, CEO, Reliance Broadcast, says that the company has entered the US market with Big Magic International. The company has launched a dish network which is a combination of general entertainment content and some Indian English content.
A new channel has been launched in the regional space by BIG CBS, a joint venture between Reliance Broadcast and CBS. Tarun Katial, chief executive officer of Reliance Broadcast sees good traction in the TV business.
Reliance Broadcast Network is in talks with PE investors to raise USD 87 million. Chief financial officer (CFO) of the company, Asheesh Chatterjee said that the main reason for this fund raising is to reduce debt and expand its radio and television business.
In what will be phase 3 of the country's FM expansion plan, the government expects an income of Rs 1,733 crore from the auction of the new channels. It has also approved raising the foreign direct investment (FDI) in radio to 26% from 20%. Asheesh Chatterjee, the CFO of Reliance Broadcast welcomes this move.
The FDI hike will result in informed investment in media companies, believed G Subramanium of Hathway Cables.
Reliance Broadcast has signed a term sheet with Europe’s RTL Group, the parent company of Fremantle Media. In an interview with CNBC-TV18, Tarun Katial, CEO, Reliance Broadcast threw light on the joint venture.