Reliance Capital has divested its 100 percent stake in its television broadcasting business and 49 per cent in its radio business to Subhash Chandra’s Zee Group for an enterprise value of Rs. 1,900 crore.
The Anil Ambani company said the move is in line with its plan to exit non-core businesses to trim debt.
The radio business, operated by Reliance Broadcast Network Ltd, holds 45 operational licences and 14 new licences. Zee has acquired two operational general entertainment TV channels and four other TV licences.