Reliance Broadcast Network plans buyout of Imagine Showbiz

acquisition buyout Imagine Showbiz M&A entertainment merger Reliance Reliance Broadcast Network

Mumbai – Reliance Broadcast Network has announced plans to acquire Imagine Showbiz with a buyout proposal to current owner Cinestar Advertising. The move will gives Reliance access to Imagine Showbiz intellectual property rights, its vast music library, Bollywood content, high-end technical expertise, and a wide 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. The acquisition will be done through RBNL’s wholly owned subsidiary Reliance Television Pvt. Ltd. RBNL is a multi-media entity with presence across the verticals of radio, out of home, experiential marketing, digital and has recently made its foray into the television industry through its joint venture with US broadcaster CBS Studios International. The company has significant plans of further strengthening its television business and this takeover is a strategic move in that direction. Speaking on the occasion, Tarun Katial, CEO of 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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