RTL Group Exits Reliance Broadcast Indian Venture

LUXEMBOURG: RTL Group has terminated its joint-venture agreement with the Indian media company Reliance Broadcast Network through which the companies operated the male-skewed action channel BIG RTL Thrill.

The JV between RTL and Reliance Broadcast Network was formed in May 2011 and operated the BIG RTL Thrill channel, which launched in October 2012. Reliance Broadcast Network has purchased all of RTL Group's interests in the securities of BIG RTL; the buyout was completed last month. It now plans to rebrand the BIG RTL Thrill channel to simply Big Thrill, removing the RTL name.

The end of the JV means that RTL Group no longer has a broadcast footprint in India; it does have a presence in Southeast Asia through its partnership with CBS Studios International.

An RTL Group spokesperson commented: “Since we launched BIG RTL Thrill in 2012, we’ve always said that we’ve put a small, first flag into a new continent. India is a fascinating country with lots of opportunities—but it’s also a tough market, given its difficult political and regulatory environment. However, thanks to BIG RTL Thrill we gained many insights into the Asian markets in a very short time frame and we met the colleagues from CBS Studios International with whom we launched RTL CBS Asia Entertainment network last year. It’s fair to say that without BIG RTL Thrill there would be no venture with CBS Studios International for Southeast Asia. Clearly, RTL CBS Asia Entertainment Network has the bigger and more interesting potential for us.”