Announced
Financials
Tags
Entertainment
India
entertainment
Acquisition
Domestic
Minority
Private
Friendly
Single Bidder
Pending
Synopsis
Reliance Industries, an Indian multinational conglomerate, agreed to acquire a 13% stake in Viacom18, an Indian media company, from Paramount Global, an American multinational mass media and entertainment conglomerate, for $517m. The move follows Disney announcing plans to merge its India business with Viacom18 late last month. The two firms said their merger will create a joint venture that they value at $8.5bn.
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