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Anil Ambani’s Reliance Group is selling 49% stake in its radio business and its entire TV business to Zee Group entities for Rs. 1,900 crore.
Phoenix Legal advised Reliance Broadcast Networks with a team led by Partner Siddharth Hariani along with Principal Associate Aditya Bhargav and Senior Associate Yashna Shrawani.
Luthra & Luthra advised the Zee Group and the core transaction team consisted of Partner – Deepak THM along with Partner Anshul Jain, who advised on the demerger of the general entertainment broadcasting business. Partner – Sundeep Dudeja advised on the regulatory aspects of the transaction while Partner Designate – Kanika Chaudhary Nayar advised on the competition law aspects.
RBN owns private FM brand 92.7 Big FM and two TV channels — Big Magic (comedy entertainment channel) and Big Ganga (Bhojpuri entertainment).