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Reliance Industries to Acquire Paramount Global’s Stake in Viacom18 Media, Expanding Media Empire in India


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Reliance Industries, led by chairman Mukesh Ambani, has signed a binding agreement to acquire Paramount Global’s 13.01% stake in Viacom18 Media for Rs. 4,286 crore, as stated in a regulatory filing by RIL. With this acquisition, Reliance’s control in Viacom18 will increase from the current 57.48% to 70.49% on a fully diluted basis. This deal is part of Reliance’s ongoing efforts to expand its media empire in India.

As part of the agreement, Paramount Global has committed to continue licensing its content to Viacom18 even after the transaction is completed. Currently, Paramount’s content is available for streaming on Reliance’s JioCinema platform. However, the finalization of this deal is contingent upon the completion of the merger between Reliance and Walt Disney, which involves their television and streaming media assets in India.

Reliance Industries has been working towards creating India’s largest media empire since its acquisition of Network18 in 2014, under the leadership of Mukesh Ambani. As a result of this acquisition, Viacom18 came under Reliance’s control. Despite failed merger attempts between Sony Pictures Entertainment and Zee, Reliance successfully acquired market leader Star India, solidifying its dominant presence in both television and digital segments.

Just two weeks ago, it was reported that Reliance and Disney India are forming a joint venture worth $8.5 billion. Together, Disney and Reliance already dominate 40% to 45% of the advertising and streaming markets, giving them a significant advantage over their competitors in the media industry. Once the merger is complete, the joint venture will become the largest entity in India’s media, entertainment, and sports sector. It will have over 100 channels, two leading OTT platforms—JioCinema and Disney+ Hotstar—and a viewer base of more than 750 million.

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