Advertisement
Singapore markets closed

  • Straits Times Index

    3,292.69
    +10.64 (+0.32%)
     

  • Nikkei

    38,234.40
    -171.26 (-0.45%)
     

  • Hang Seng

    17,763.03
    +16.12 (+0.09%)
     

  • FTSE 100

    8,144.13
    -2.90 (-0.04%)
     

  • Bitcoin USD

    60,324.90
    -3,635.42 (-5.68%)
     

  • CMC Crypto 200

    1,294.61
    -44.46 (-3.32%)
     

  • S&P 500

    5,035.69
    -80.48 (-1.57%)
     

  • Dow

    37,815.92
    -570.17 (-1.49%)
     

  • Nasdaq

    15,657.82
    -325.26 (-2.04%)
     

  • Gold

    2,300.00
    -2.90 (-0.13%)
     

  • Crude Oil

    81.23
    -0.70 (-0.85%)
     

  • 10-Yr Bond

    4.6860
    +0.0720 (+1.56%)
     

  • FTSE Bursa Malaysia

    1,575.97
    -6.69 (-0.42%)
     

  • Jakarta Composite Index

    7,234.20
    +78.41 (+1.10%)
     

  • PSE Index

    6,700.49
    -69.15 (-1.02%)
     

India's Reliance to buy Paramount's stake in Viacom18

Reuters
·1-min read
A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad

(Reuters) -India's Reliance Industries has agreed to buy Paramount Global's entire 13.01% stake in local entertainment network Viacom 18 Media for about $517 million (42.86 billion Indian rupees), the U.S. company said in a regulatory filing.

Viacom18 is majority-owned by Reliance and has 40 television channels, including Comedy Central, Nickelodeon and MTV.

Paramount said it will continue to license its content to Viacom18 after the closing of the deal. It already streams its content through Reliance's JioCinema.

The transaction is also subject to the completion of Reliance's previously announced merger with Walt Disney for their India TV and streaming media assets.

($1 = 82.8322 Indian rupees)

(Reporting by Leroy Leo and Harshita Mary Varghese in Bengaluru; Editing by Krishna Chandra Eluri)