India's diversified business conglomerate Reliance Industries Ltd said its subsidiary Reliance Jio Media Pvt Ltd has received provisional registration by the Ministry of Information and Broadcasting to operate as a pan-India Multi Service Operator (MSO), becoming a distributor of television channels, according to a stock market disclosure.
Reliance Jio Media is an arm of Reliance Jio Infocomm Ltd (R-Jio), which is the wireless telephony and data services unit of Mukesh Ambani-controlled Reliance Industries Pvt Ltd and is slated to start commercial operations in December this year.
Reliance Jio Infocomm is the only firm to have a pan-India licence for providing 4G services for fast broadband internet.
Reliance Jio Media had applied for a pan-India MSO licence in January this year to use its fibre-to-the-home (FTTH) connectivity to offer a host of services, including television channels, high-speed internet, telephone and wireless access, to its prospective customers.
The company has a large exposure to the media business through Network18, a holding firm for various TV channels including CNBC TV 18 and CNN IBN among others.
It also happens to have a small stake (just over 1 per cent) in DEN Networks, the second-largest MSO in the country.
The top MSO in the country Hathway is backed by PE firm Providence among other private investors.
On Monday, shares of Reliance Industries last traded at Rs 992.00, down 0.45 per cent on BSE in a strong Mumbai market.