TV18 to increase Viacom18 stake to 51%

by Saurabh Shukla

TV18 will raise its stake in the company to 51% by acquiring 1% of Viacom18?s equity from Viacom Inc. for a cash consideration of $20 million.

TV18 Broadcast Ltd on Wednesday said it will take operational control of Viacom18 Media Pvt. Ltd, a equal joint venture between TV18 and US-based media company Viacom Inc.

TV18 will raise its stake in the company to 51% by acquiring 1% of Viacom18?s equity from Viacom for a cash consideration of $20 million, the company said in a statement. Viacom and Viacom18 have also extended their brand and content licence agreement by 10 years (the original 10-year agreement expired this year).

Contact Us

IndiaCast Media Distribution Private Limited

REGISTERED OFFICE

First Floor, Empire Complex, 414 – Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India

HEAD OFFICE

703, 7th Floor, HDIL Kaledonia, Opposite Vijay Nagar, Sahar Road, Andheri (East), Mumbai – 400 069, Maharashtra, India

Tel

+91 22 6697 7777

Fax

+91 22 6697 7778

Corporate Identification Number – U74300MH2008PTC274364

I agree to the use of my personal data for the purpose of this feedback. I allow IndiaCast to contact me for the activities related to this feedback.