Reliance Industries acquires 13% stake in Paramount Global's Indian TV business for Rs 4,286 crore.
Reliance Industries shares jumped after it acquired a 13% stake in Paramount Global's Indian TV business for Rs 4,286 crore. The deal, which increased Reliance's stake in Viacom18 to 70.49%, follows the previously announced merger of Reliance and Disney's media businesses in India, valued at $8.5 billion. Paramount Global will continue to license its content to Viacom18 after the closing of the transaction.
March 13, 2024
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