Mukesh Ambani’s new deal, will buy 13% stake in this company

Mukesh Ambani: Indian industrialist Mukesh Ambani He is continuously expanding his business empire at a very fast pace. It is now being told that Paramount Global has agreed to sell 13 percent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore. In the information given to the stock market, Reliance said that it has signed an agreement with two of its subsidiaries to acquire 13.01 percent stake of Paramount Global’s Viacom 18 Media Private Limited. Before this, Reliance and Paramount were the two largest stake holders of Viacom 18 Media Private Limited. After this deal, Paramount’s stake in Viacom 18 will reduce, but the stake of Mukesh Ambani’s companies will increase. According to media reports, this deal can be done for 517 million dollars i.e. about Rs 4,300 crore.

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Reliance’s grip will strengthen

Let us tell you that Viacom 18 is a joint venture. Reliance and Paramount Global have major stake in it. In this also, Reliance has the maximum shares. More than 40 television channels are included in this joint venture. It has many news channels including Comedy Central, MTV. With this deal your hold on media house and media world will become stronger. According to a Reuters report, Paramount Global will retain its content licensing agreement with Viacom18 Media even after its stake is bought by Reliance Industries. Currently Paramount’s content is available on Jio Cinema.

Reliance will have this much stake

In a filing to the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the deal is subject to the satisfaction of certain customary conditions, including the receipt of applicable regulatory approvals as well as the previously announced completion of the joint venture of Reliance, Viacom18 and Star Disney. Completion of the enterprise program is included. It said that Paramount will continue to license its content to Viacom18 after the closing. RIL said that Viacom18 is a content supplying subsidiary of TV18 Broadcast Limited. After completion of this transaction, the company’s shareholding in Viacom18 will increase to 70.49 percent.