Nishith Desai Associates (NDA) and J Sagar Associates (JSA) have inked a joint venture (JV) between Reliance Broadcast Network and US TV giant CBS Studios International respectively to pave the way for the creation of three new television channels and Reliance group’s foray into the television broadcasting industry.

NDA partner Gowree Gokhale led the team of associates Kushboo Bakshi and Rakhi Jindal for Reliance on the legal structuring and documentation work while associate Abhay Sharma helped on the tax side.

JSA Mumbai partner Akshay Chudasama acted for US media company CBS Studio in the joint venture which entails an equal ownership of stakes by both the entities. He was assisted by senior associate Aditi Garg and associates Anuj Bhasme and Roopal Kulsrestha.

Chudasama explained that CBS's in-house licensing and corporate legal teams in the US were heavily involved in the transaction.

CBS was a new client for JSA, said Chudasama, adding that the company had probably approached the firm because of its work on Viacom's Indian joint venture which was "a feather in our cap".

The proposed venture that was signed last week aims to broadcast channels under three different categories called BIG CBS - Prime, Spark and Love. The viewership of these entertainment channels would include audiences across India, Nepal, Bhutan, Sri Lanka, Bangladesh, Maldives and Pakistan.

Photo by A3R