Mukesh Ambani’s Reliance Industries Ltd. and Sony Corporation are rumoured to be in talks to merge their entertainment channel businesses. It is believed that RIL may hold a significant minority interest in the merged entity.
RIL’s entertainment channel business is run through Viacom18 Media, a 51%-49% joint venture between TV18 Broadcast and US-based Viacom. TV18 Broadcast is held by RIL’s Network18 Media & Investments. Viacom18 Media operates entertainment channels like Colors, MTV, Comedy Central, VH1 and Nickelodeon. Sony Corp, through its local arm, Sony Pictures Networks (SPN), runs a bouquet of entertainment channels including SET, Max and Pix.