Last Updated on March 14, 2024 by BFSLTeam BFSLTeam
- Acquisition: Reliance Industries acquires Paramount Global’s 13.01% stake in Viacom18 for Rs. 4,286 crore, raising its stake to 70.49%.
- Viacom18: Operates 40 TV channels including Comedy Central and MTV. Reliance strengthens its media presence.
- Paramount Partnership: Continues content licensing to Viacom18, ensuring access to Paramount’s content on JioCinema.
- Strategic Moves: Part of Reliance’s broader strategy, including a merger with Walt Disney’s assets in India, to reshape the entertainment sector.
- Impact: Marks a significant step in Reliance’s consolidation of its position in India’s media and entertainment industry.
In a strategic move, Reliance Industries Limited (RIL) has agreed to acquire Paramount Global’s 13.01% stake in the popular Indian entertainment network, Viacom18 Media, for an impressive sum of Rs. 4,286 crore. The deal, as reported in a regulatory filing by RIL, will significantly enhance Reliance’s foothold in the media and entertainment sector.
Additional Check : Reliance Industries Share Price
The Numbers
- Stake Acquisition: Paramount Global’s entire 13.01% equity stake in Viacom18 Media.
- Purchase Price: Approximately $517 million (Rs. 4,286 crore).
- Post-Acquisition Stake: Reliance’s equity stake in Viacom18 will surge to 70.49% on a fully diluted basis, up from the current 57.48% held via Compulsorily Convertible Preference Shares.
Viacom18: A Powerhouse in Indian Entertainment
Viacom18, primarily owned by Reliance, operates a network of 40 television channels, featuring popular brands such as Comedy Central, Nickelodeon, and MTV. The acquisition reinforces Reliance’s commitment to bolstering its presence in the media landscape.
Paramount’s Content Continues to Shine
Paramount Global has affirmed its commitment to continue licensing its content to Viacom18 even after the deal’s completion. Currently, Paramount’s content is available for streaming on Reliance’s JioCinema platform, providing viewers with a diverse range of entertainment options.
In summary, Reliance Industries’ acquisition of Paramount’s stake in Viacom18 marks a significant milestone, solidifying its position as a major player in India’s media and entertainment ecosystem. As the industry evolves, all eyes are on the dynamic developments that lie ahead.
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