News Update: CBS Looks To Tap Into India's TV Market Through JV With Reliance (CBS)

CBS (NYSE:CBS) is looking to tap into the vast library of programming by entering India's rapidly growing TV market.

Reliance, which is CBS' India-based joint-venture partner, currently holds investments in a number of industries including radio stations, outdoor advertising and digital advertising, however, this move marks its first venture into TV.

The venture, known as BIG CBS Networks, will operate three channels in India at first, allowing it to leverage the large library of English-language shows already owned by CBS. According to a report from The New York Times, the channels should start up by year's end.

The deal, announced today, underlies a growing trend among larger US tv companies to push into emerging markets and harness revenue growth overseas.

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