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 […]
Reliance-backed Viacom18 agrees to buy 60% of Disney’s India unit, report says
Reliance-backed Viacom18 has reached an agreement to buy 60% of Disney’s India unit, WSJ reported Thursday, creating a pathway for the Indian conglomerate to form a $ 10 billion media giant in the South Asian market. The deal, which WSJ says will close this month, values Disney’s India unit at $ 3.9 billion, the report […]