look news india
Reliance Industries: Reliance Industries is continuously signing new contracts. Now Mukesh Ambani's company Viacom is going to buy more than 13 percent stake of Paramount Global in 18 Media. Paramount Global has informed the market director in America about this deal.
Mukesh Ambani's Reliance Industries has agreed to buy its stake in Viacom18 Media, the company said in a regulatory filing. The deal is for a 13.01 percent stake in Paramount Global. Whose value has been estimated at 517 million dollars i.e. about Rs 4,300 crore.
Reliance has a big stake in – Viacom 18 Media is a joint venture in which Reliance Industries and Paramount Global hold majority stakes. This network has more than 40 TV channels. It also includes many news channels like Comedy Central, MTV. Reliance already holds a majority stake in Viacom 18 Media. The new deal will strengthen RIL's hold on Viacom 18 Media.
When will the contract expire? -Ambani The company Reliance has recently given information about a big deal. Regarding a big deal in the media and entertainment sector, the company said that Disney is going to merge with the TV and media business of Reliance Industries. After this, the deal to buy Paramount Global's stake in Viacom18 will be completed.
Will there be a compromise? , According to a Reuters report, Viacom will retain Paramount's content licensing agreement with 18 Media even after Paramount Global's stake goes to Reliance. Currently, Paramount Global's content is available on Reliance's Jio Cinema platform.
Till now no official information has been given from either side regarding this deal. Now it remains to be seen when both the companies will disclose this deal.