News > Reliance Industries to acquire Paramount Global’s 13 pc stake in Viacom 18 Media

Reliance Industries to acquire Paramount Global’s 13 pc stake in Viacom 18 Media

Reliance Industries will acquire the equity stake through its two subsidiaries for an aggregate consideration of Rs 4,286 crore. Viacom18 is a material subsidiary of TV18 Broadcast Limited. Reliance currently holds Compulsorily Convertible Preference Shares of Viacom18 representing a 57.48% equity stake (on a fully diluted basis). Post this transaction, Reliance's stake in Viacom18 will increase to 70.49% (on a fully diluted basis).