CBS Corp. (CBS), which operates as a mass media company in the U.S., has been striving to expand the ambit of its umbrella to India. The company is in talks with India based Reliance Media World to form a joint venture. The contractual agreement joining the two companies together is for the purpose of launching a series of television channels that will be owned 50% by each party.
The joint venture to be known as BIG CBS is expected to begin its operation from January 2011 and will air channels featuring syndicated content from CBS. This is blessed with several hit shows such as NCIS, The Young and the Restless, CSI and America’s Top Model, coupled with sitcoms such as Two and a Half Men.
In an attempt to attract the Indian viewers, the joint venture also plans to foray into the Hindi general entertainment world. Given to enriching the entertainment experience, the company has plans to further launch movie channels and regional entertainment channels.
The joint venture provides CBS a platform to enter into one of the fastest emerging media and entertainment markets. But this comes with stringent competition from other entertainment companies such as Walt Disney Co. (DIS), Bloomberg, Viacom (VIA), News Corp. (NWSA), and Time Warner (TWX) who are already operational in India.
Overall, we believe that the CBS−Reliance Media joint venture will be potent enough to take the entertainment world a step further, thereby expanding network by providing a broad space of entertainment to its subscribers.
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