Advertisement
Canada markets closed

  • S&P/TSX

    21,947.41
    +124.19 (+0.57%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +450.02 (+1.18%)
     

  • CAD/USD

    0.7308
    -0.0006 (-0.08%)
     

  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     

  • Bitcoin CAD

    87,513.08
    +1,677.42 (+1.95%)
     

  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     

  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     

  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     

  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     

  • NASDAQ

    16,156.33
    +315.37 (+1.99%)
     

  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     

  • CAD/EUR

    0.6787
    -0.0030 (-0.44%)
     

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)