Paramount Expected To Sell Its Share In Viacom18 To RIL: Report

According to a media report, Mukesh Ambani's Reliance is in talks to purchase a minority stake in Viacom18, from New York-based Paramount Global.

At Viacom18, Paramount Global owns a 13 per cent share currently. 

Sources claim that the discussions are far along in their stages.

It is said that Paramount, which is presently attempting to pay down its debts by selling off assets, like its book publishing division Simon & Schuster, could reportedly generate $550 million through the stake.

The Walt Disney Company and Viacom18 recently signed legally binding definitive agreements to establish a joint venture (JV) that would integrate the operations of Viacom18 and Star India.

The transaction values the JV at ₹70,352 crore (US$ 8.5 billion) on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34 per cent by RIL, 46.82 per cent by Viacom18 and 36.84 per cent by Disney. Disney may also contribute certain additional media assets to the JV, subject to regulatory and third-party approvals.