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RIL Sell Off its Interest from ETV to TV 18
RIL has announced that a part of the interest owned by it in the ETV Channels is being divested to TV18 Broadcast Limited (TV18). As a part of the deal, Infotel Broad Band Services Limited (“Infotel”), a subsidiary of RIL, has entered into a Memorandum of Understanding with TV18 and Network18 Media and Investments Limited (Network18) for preferential access to all their content for distribution through the 4G Broadband Network being set up by it.
Infotel is setting up a pan India world class 4th Generation 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.
RIL, through investments of about Rs.2600 crores, by its group companies, currently holds interest in various ETV Channels being operated and managed by Eenadu Group viz. A part of the investments comprising of 100% interest in News Channels, 50% interest in Entertainment Channels and 24.50% interest in Telugu Channels is being profitably divested to TV18 Broadcast Limited.
