India’s Reliance Industries has announced a deal to acquire Paramount Global’s 13.01 per cent stake in indian entertainment network Viacom 18 Media for IDR 42.86 billion (€472.4bn), according to Paramount’s 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 $8.5 billion merger with Walt Disney announced in February for their India TV and streaming media assets.

Other posts by :

1. SES happy with releasing 160MHz of spectrum for 5G
2. Inmarsat “likely to win appeal” over Ligado/AST action
3. FCC seeks fair play over foreign satellite access
4. Bank raises RocketLab target price
5. Paramount throws kitchen sink
6. Ukraine wants its own LEO system
7. SpaceX outlines Starlink cellular delivery plan
8. NAB vs CTIA on C-band release
9. Laser terminals to operate at 100x faster

Categories: Articles, Business, M&A

Tags: india, paramount, Viacom, Viacom 18