TV18 to increase Viacom18 stake to 51%

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).

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