Reliance Plans To Take Ice Plunge

The Reliance group is all set to enter the information technology, communications and entertainment sector in a big way.

According to industry sources, the group is floating a new company, Reliance Entertainment, to make forays into TV broadcasting and broadband broadcast radio services (through ISPs), besides running a multiplex theatre chain.

Reliance is also planning to acquire the controlling stake in the Mumbai-based media house, Plus Channel.

At present, Plus Channel produces programmes for various TV channels and markets music titles through Plus Music. The company has also produced a few Hindi feature films.

The Reliance group has already become a player in the FM radio sector with the rights to operate stations in about six cities. This venture is being implemented through Observer Network.

 

The group is likely to start a general entertainment satellite TV channel this calendar year.

Reliance is also looking for acquisitions and mergers in the Net world. It acquired the multilingual portal NetJaal and recently took over Fabmart, a portal to buy and sell music and books.

The group has also acquired numerous business-to-business (B2B) sites.

NetJaal offers the latest business news and bytes from the stock markets on the site in local languages. The main aim of the site is to turn Indian languages to as convenient for the Net surfer as as English is.

As part of its ICE strategy, Reliance Entertainment pipped others to the post in the race for the mega-entertainment complex in Mumbai.

The complex, to be built at the Bandra-Kurla area of Mumbai, attracted bidders like the Subhash Chandra-promoted Zee/Essel group, Priya Village Roadshow and the Tatas.

Plus Channel is one of the pioneers in producing TV business news.

The Reliance Web

The Ambanis are all set to

* Accquire controlling interest in Plus Channel

* Float Reliance Entertainment

* Make forays into TV broadcasting, broadband broadcast radio services

* Start a general entertainment satellite TV channel which may go on air this year.

* Look for A&Ms in the cyber world

They already have

* Acquired a multilingual portal-NetJaal

* Accquired Fabmart-a portal to buy and sell music and books-and many B2B sites.

* NetJaal offers the latest from the stock markets, business news on the website in Indian languages to reach the indian netizen