TV18 takes majority stake in the JV with Viacom18

As per reports, TV18 Broadcast and Viacom Inc, joint-venture partners in Viacom18 Media have announced that TV18 shall take operational control of Viacom18. TV18 shall raise its stake to 51% by acquiring 1 percent additional stake of Viacom18’s equity from Viacom Inc. for a cash consideration of USD 20 million. The brands and content licence agreement between Viacom Inc. and Viacom18 also gets extended by 10 years. Viacom Inc continues to hold 49 per cent in Viacom18.

Viacom18 today has 44 television channels across 80 countries in 6 different languages, beside five lines of business, spawning broadcast, digital, films, merchandise and live events. Viacom18 has reported total revenues of Rs 30,407 million in FY17.

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