Paramount Global’s sale of its 13.01% stake in Viacom18 to Reliance Industries (RIL) has provided the company with an opportunity to exit the Indian joint venture (JV) with an attractive return on investment, a top company executive said.Paramount fully exited Viacom18 last month after selling its remaining 13.01% stake to RIL for ₹4,286 crore ($517 …
On a breezy April evening some 45,000 Indian Premier League cricket fans are packed into Wankhede Stadium to watch the hometown Mumbai Indians battle the Rajasthan Royals. Elsewhere in the city, hundreds of employees of Viacom18 Media Pvt. are on different mission, transmitting the match in 12 languages and 20 camera angles across the world’s …
Paramount Global will exit Viacom18 by selling its remaining 13.01% stake to Reliance Industries for ₹4,286 crore, a deal that will value the Indian media company at about ₹33,000 crore. In separate regulatory filings, the US media and entertainment major and the Mukesh Ambani-led Indian conglomerate have said the transaction is subject to the satisfaction …
Reliance Industries has agreed to buy Paramount Global’s entire 13.01% stake in local entertainment network Viacom 18 Media for approximately Rs. 4,286 crore, RIL said in a regulatory filing. “A binding agreement has been entered between Reliance and two subsidiaries of Paramount Global to acquire 13.01% equity stake (on a fully diluted basis) of Viacom …
EXCLUSIVE: Amid speculation about its future, Paramount Global is proceeding with a new wave of staff reductions in February, sources tell Deadline. I hear the cuts will impact hundreds of employees across the entire company. For the past several days, there has been chatter that Paramount layoffs of about 800 are imminent. It followed a …
Paramount Global has realised non-cash gain of $168 million for the quarter ended June from dilution of its stake in Indian media conglomerate Viacom18, the company said in its quarterly regulatory filing recently. In April, the company’s stake in Viacom18 dropped to 13% from 49% following a strategic transaction that saw Reliance Industries Limited (RIL) …