Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV 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, 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 Ambani is “in his personal capacity.”
According to reports, Ambani holds over 25 per cent stake along with Mahindra group chairman Anand Mahindra (who also holds over 25 per cent stake in the venture). And the investment is routed through Reliance Ports & Terminals, which is one of Ambani’s personal firms.