RIL buys 13.01 per cent in Viacom18 for Rs 4,286 crore

NEW DELHI: Reliance Industries Limited (RIL) signed an agreement on Thursday to acquire a 13.01% equity stake in Viacom18 Media Private Limited (Viacom18) for a consideration of Rs 4,286 crore. Viacom 18 is currently owned by Paramount Global through its two subsidiaries. Viacom18 is a subsidiary of TV18 Broadcast Limited.

“A binding agreement has been entered between Reliance and two subsidiaries of Paramount Global to acquire a 13.01% equity stake (on a fully diluted basis) in Viacom 18 Media held by Paramount Global via two subsidiaries for an aggregate consideration of Rs 4,286 crore,” said RIL in an exchange filing.