MUMBAI: Anil Ambani’s FM radio and OOH company, Reliance Media World Limited (RMWL), is on a sprint. The scrip has hit the upper circuit for six straight days since news broke out that it has plans to hold 50 per cent stake in a broadcasting venture that would have US media giant CBS as an equal partner.
Shares of RMWL gained 33.42 per cent to close Monday at Rs 64.75, seeing six days in the green on the trot.
“The talks are on with CBS. The plan is to first roll out four English entertainment channels including in the movie genre,” a source familiar with the development said. Click here to read more
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