Mukesh Ambani has taken up stake in a new television channel Epic TV due to go on air next month.
Epic TV is a niche high-definition channel, which will have content based on the nation's history, folklore and mythology in a contemporary format.
According to reports, Ambani holds over 25% stake along with Mahindra group chairman Anand Mahindra (who also holds over 25% stake in the venture). And the investment is routed through Reliance Ports & Terminals, which is one of Ambani's personal firms.
Mahesh Samat, former managing director of Walt Disney Company had earlier said Epic TV was being funded by a group of angel investors but declined to name the investors or the amount.
The Epic TV will be Ambani's second broadcasting venture as he already owns a considerable stake in the Network18 Group.
The new channel aims to tap into the now digitised cable TV ecosystem and the DTH platform to take advantage of the growing opportunities.
It will have about 4-5 hrs of fresh programming every day, which will include 2-3 hrs of long programming and 1-2 hrs of narrative non-fiction shows.
Source: http://cablequest.org/news/national-news/item/2750-epic-tv-gets-mukesh-ambani%E2%80%99s-support.htmlSource: http://cablequest.org/news/national-news/item/2750-epic-tv-gets-mukesh-ambani%E2%80%99s-support.html
Source: http://cablequest.org/news/national-news/item/2750-epic-tv-gets-mukesh-ambani%E2%80%99s-support.htmlSource: http://cablequest.org/news/national-news/item/2750-epic-tv-gets-mukesh-ambani%E2%80%99s-support.html
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