Zee Media Corporation Limited, one of India’s leading news media companies, has announced that its board has approved the submission of a bid for the acquisition of Reliance Broadcast Network Limited (RBNL), which owns a range of popular television and radio channels in the country. The move is aimed at strengthening Zee Media’s presence in the media industry and expanding its offerings to a wider audience.
The acquisition of RBNL is expected to provide Zee Media with a range of popular television and radio channels, including Big FM and Big Magic, which have a strong presence in several key markets in India. The move is also expected to provide significant synergies and cost savings for Zee Media, as it will allow the company to streamline its operations and reduce its reliance on third-party content providers.
Zee Media’s decision to submit a bid for RBNL is seen as a strategic move, as it will help the company compete more effectively with other players in the media industry, including larger players such as Times Group and Disney. The move is also expected to provide significant growth opportunities for Zee Media, as it will enable the company to expand its offerings to a wider audience and capture a larger share of the Indian media market.
The approval of the board is the first step in the acquisition process, and the company is expected to submit a formal bid for RBNL in the coming weeks. The acquisition is subject to regulatory approvals and other conditions, and the final terms and conditions of the deal have not yet been disclosed.
Overall, Zee Media’s decision to submit a bid for RBNL is expected to have a positive impact on the media industry in India. It will provide Zee Media with a range of popular television and radio channels, strengthen its presence in the media industry, and enable it to compete more effectively with other players in the market.