Reliance Industries has made a deal to buy 13.01% of Viacom 18 Media Private Limited (Viacom18) from Paramount Global for Rs 4,286 crore. Viacom18 is part of TV18 Broadcast Limited. After this deal, Reliance’s stake in Viacom18 will rise to 70.49%. This is not a deal between related parties, and none of Reliance’s promoters or related companies are involved.
On February 28, Reliance Industries Limited (RIL), Viacom 18 Media Private Limited (Viacom18), and The Walt Disney Company (Disney) announced plans to merge Viacom18’s media business with Star India. This means Viacom18’s media operations will become part of Star India Private Limited (SIPL) through a court-approved process. As part of this deal, Reliance will invest Rs 11,500 crore ($1.4 billion) into the joint venture for future growth.
