RBNL to acquire Imagine Showbiz, to create a synergy of quality entertainment

Reliance Broadcast Network Ltd. ("RBNL"), on January 12th 2011 announced its proposal to acquire Imagine Showbiz Ltd. ("ISL"), through a buy-out from Cinestar Advertising Pvt. Ltd. ("CAPL"). This proposed acquisition by RBNL will include a 100% purchase of ISL's shareholding, along with other assets including:

Intellectual Property rights

Rich Bollywood content

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. The acquisition will be done through RBNL's wholly owned subsidiary Reliance Television Pvt. Ltd.

The key highlights of the acquisition will be:

Excellent synergies between this television channel and 92.7 BIG FM, with music and Bollywood as a key common programming mainstay

RBNL's Intellectual Property business ' BIG Live will also see business synergies with this channel

Leverage Bollywood content from Group companies like BIG Pictures, BIG Music and Home Video

The equity of the "BIG' brand will ensure the channel has accelerated speed to market

With these synergies, this acquisition promises to work as an excellent addition to the business mix, further strengthening RBNL's portfolio.

Speaking on the occasion, Tarun Katial, Chief Executive Officer, Reliance Broadcast Network Ltd. 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."

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 momentous joint venture with US's No. 1 Television 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.