Paramount Global to sell stake in India’s Viacom18 to Reliance for over $500M

This post is by Manish Singh from TechCrunch

Paramount Global has reached a binding agreement to sell its 13% stake in Reliance-controlled Indian media firm Viacom18 to Reliance for $517 million, both companies said Wednesday. The deal will increase Reliance’s stake in Viacom18, which operates dozens of TV channels as well as streaming service JioCinema, to 70.49%, Reliance said in a disclosure (PDF) […] © 2024 TechCrunch. All rights reserved. For personal use only.