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Reliance Industries Acquires Paramount's Stake in Viacom18, Bolstering Indian Entertainment Dominance

The $517 million deal raises Reliance's ownership to 70.49% and follows a strategic merger with Disney, aiming to create an entertainment giant with over 750 million viewers.

Overview

  • Reliance Industries, led by Mukesh Ambani, acquires Paramount Global's 13% stake in Viacom18 for approximately $517 million, raising its ownership to 70.49%.
  • The acquisition is part of Reliance's broader strategy to strengthen its position in the Indian entertainment sector, following a merger with Disney's TV assets in India.
  • Paramount Global continues to divest non-core assets, including its stake in Viacom18, to reduce its debt burden.
  • The merger between Reliance's Viacom18 and Disney's Star India is expected to create a major player in the Indian entertainment industry, with a combined viewer base of over 750 million.
  • The joint venture will have exclusive rights to distribute Disney films in India, adding to a diverse content library that poses a challenge to other streaming services.