Infotel Broadband Services, a subsidiary of
Reliance Industries, has entered into a strategic agreement with TV18 and
Network18 Media and Investments for preferential access to all their content
for distribution through the 4G broadband network being set up by it.
Infotel will have preferential access to
the content of all the media and web properties of Network 18 and its
associates and programming and digital content of all the broadcasting channels
of TV18 and its associates on a first right basis as a most preferred customer.
Infotel is setting up a pan India world
class 4G broadband network using state of the art technologies.
Infotel expects to take a leadership position in content distribution through
broadband technology through a host of devices. Digital content from
entertainment, news, sports, music, weather, education and other genres will be
a key driver to increase consumption of broadband.
The combination of India’s leading TV
content provider, with a bouquet of nearly 25 channels, and Infotel, will be a
significant step in bringing a live TV experience to broadband customers across
the country. Likewise, Network18’s web portals and e-commerce operations will
provide value added services to Infotel’s broadband subscribers. This unique
alliance is expected to differentiate Infotel and create value for all
stakeholders.
RIL also announced that a part of the
interest owned by it in the ETV Channels is being divested to TV18 Broadcast.
RIL, through investments of about Rs 2600
crore, by its group companies, currently holds interest in various ETV Channels
being operated and managed by Eenadu Group.
RIL has 100 percent stake in regional news
channels, namely ETV Uttar Pradesh, ETV Madhya Pradesh, ETV Rajasthan, ETV
Bihar and ETV Urdu channel. It also holds 100 percent stake in entertainment
channels such as ETV Marathi, ETV Kannada, ETV Bangla, ETV Gujarati and ETV Oriya
and 49 percent stake in ETV Telugu and ETV Telugu News.
A part of the above investments comprising
of 100 percent interest in news channels, 50 percent interest in entertainment
channels and 24.50 percent interest in Telugu Channels is being divested to
TV18 Broadcast.
Independent Media Trust, a trust set up for
the benefit of Reliance Industries, has agreed to fund the Promoters of Network
18 and TV18 to enable them to subscribe to the proposed rights issue.
Raghav Bahl and his team will continue to
have full operational and management control of both the companies. Raghav Bahl
and the current Promoter Entities of Network18 and TV18 will continue to retain
control over Network 18 and TV18. RIL reposes full faith in the current
leadership and management team of Network18 and TV18.
The investments in these media properties
are being made by RIL through an independent trust which will have eminent
individuals as Trustees, thus preserving the management, operational and
editorial independence of these media companies.
The investment by the Trust in the Promoter
Companies of Network18 and TV18, and the arrangement between Network18/TV18 and
Infotel for the acquisition and distribution of content on the Infotel
platform, is one of many such partnership initiatives being undertaken by
Infotel.
By Telecomlead.com Team
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