Reliance Capital, part of the Anil Dhirubhai Ambani Group, has declared that it will purchase an 18% interest in business channel Bloomberg UTV.

In a declaration, the company said, "The investment will form part of Reliance Capital's exposure to the fast growing and high potential in the Indian media sector."

After transferring the equity stake, Bloomberg will possess 15% stake in the company and the remaining 67% will be controlled by the UTV founders, led by Ronnie Screwvala.

Established in October 2009, Bloomberg UTV is a top competitor in the country's media space, seeking to present business news in a different and clear viewpoint.

Bloomberg UTV claims a clear Number Two spot in the country's top eight metropolitans.

Reliance Capital already owns an equity stake in the Network 18 Group, which runs CNBC, CNN-IBN, IBN 7, Colors and Awaaz channels.

It also holds a stake in the TV Today network, which operates Aaj Tak and Headlines Today news channels. (With Inputs from Agencies)