Billionaire industrialist Mukesh Ambani has turned into a venture capitalist, and is backing Epic TV, a new television channel, which is due to go on air next month.
Epic TV is a niche high-definition channel, which will have
content based on the nation’s history, folklore, and mythology in a
contemporary format.
Set up last October, the Epic Television Network is being led by Mahesh
Samat, former managing director of Walt Disney Company, who had left the
US major last year after a four-year stint.
While refusing to offer details, a Reliance spokesperson confirmed the
development and said the investment by Mr. Ambani is “in his personal
capacity.”
According to reports, Mr. Ambani holds over 25 per cent stake along with
the Mahindra group chairman Mr. Anand Mahindra. The investment is
routed through Reliance Ports & Terminals, which is one of Mr.
Ambani’s personal firms.
