The group, which has Reliance Entertainment as a subsidiary, is foraying into the broadcast business through two companies Reliance Big TV Entertainment and Reliance Big TV News, the officials added.

“We are at the planning stage. So we are not revealing the details of the media project right now. At the appropriate time — very shortly perhaps — we will make a formal announcement,” a spokesperson for the group told IANS here on Saturday.

“The first of these channels will go on air probably in July-August this year. We have already applied for approval of these channels from the information and broadcasting ministry,” the spokesperson pointed out. Two separate companies are being floated since the government imposes restrictions on foreign direct investment (FDI)in the news media sector and the group is proposing two general news and two business news channels in Hindi and English.