2024-03-14 09:16:55 am | Source: Reuters
India`s Reliance to buy Paramount`s stake in Viacom18
India's Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in local entertainment network Viacom 18 Media for about $517 million (42.86 billion Indian rupees), the U.S. company said in a regulatory filing.
Viacom18 is majority-owned by Reliance and has 40 television channels, including Comedy Central, Nickelodeon and MTV.
Paramount said it will continue to license its content to Viacom18 after the closing of the deal. It already streams its content through Reliance's JioCinema.
The transaction is also subject to the completion of Reliance's previously announced merger with Walt Disney for their India TV and streaming media assets.
($1 = 82.8322 Indian rupees)
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
IPO Note : Denta Water & Infra Solutions Ltd By Geoj...
Market Watch: Asia follows US higher - Geojit Financ...
BHIM partners with Fintech Yatra to Advance Financia...
Nifty is expected to open on a positive note and lik...
Mahindra Leads with First-of-Its-Kind `Returnship` f...
FIIs Sell Rs.5920.28 Cr in Cash, Rs.2428.17 Cr in In...
Standard Chartered introduces SC PrismFX
JK Tyre ties up with IFC for India`s First Tyre Ind...
Market is expected to open on a positive note and li...
JSW Group signs MoU with Governement of Maharashtra ...
