Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in Viacom 18 Media for approximately Rs4,286 crore.

Economy Business

Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in local entertainment network Viacom 18 Media for approximately Rs4,286 crore. After the completion of this transaction, Reliance's equity stake in Viacom18 will increase to 70.49% on a fully diluted basis. At present, Reliance holds Compulsorily Convertible Preference Shares of Viacom18, representing a 57.48% equity stake.


      Viacom18, primarily owned by Reliance, operates a network of 40 television channels, featuring popular brands such as Comedy Central, Nickelodeon, and MTV.

     

     

 

     


Viacom 18

Founded- 2007
Parent organization- TV18
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