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Reliance Broadcast to buy Imagine Showbiz

Reliance Broadcast Network (RBNL), today announced its proposal to acquire Imagine Showbiz (ISL), through a buy-out from Cinestar Advertising (P) (CAPL). This proposed acquisition by RBNL (Q,N,C,F)* will include a 100% purchase of ISL`s shareholding, along with other assets including:

> Intellectual Property rights
> Vast music library
> Rich Bollywood content
> High end technical expertise – including top of the line studios and equipment
> Well spread distribution network

This acquisition will fit excellently into the overall business strategy of RBNL, leveraging excellent synergies with its radio arm – 92.7 BIG FM, its Intellectual Property arm – BIG Live and its integrated sales offering through BIG Connect. Theacquisition will be done through RBNL`s wholly owned subsidiary Reliance Television (P).

Speaking on the occasion, Tarun Katial, Chief Executive Officer (CEO), Reliance Broadcast Network said, “This proposed acquisition is in line with the overall strategy to create ownership of multi-media consumer touch-points. It will further strengthen our television portfolio, from the English space into the Hindi entertainment space. This business deal seems a natural choice, given the seamless business fit, spanning across our verticals of radio, intellectual properties and digital along with the Group synergies. We are confident of building the Channel into a robust entertainment option with novel programming enhancements, while offering an exciting platform for marketers.“

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