TV18 Broadcast shall raise its stake to 51% by acquiring 1% of Viacom18’s equity from Viacom Inc. for a cash consideration of $20 million. The brands and content licence agreement between Viacom Inc. and Viacom18 also gets extended by 10 years.
TV18 Broadcast and Viacom Inc, are joint venture partners in Viacom18 Media. The partners believe that in the fast-evolving Media & Entertainment landscape in India, TV18 can drive value-addition and synergies across the multi-platform group comprising broadcast, digital, filmed and experiential entertainment and media businesses. Viacom continues to hold 49% in Viacom18, and shares TV18’s vision for scalability and enhanced efficiency at Viacom18.
TV18 Broadcast formerly IBN18 Broadcast owns and operates one of India’s leading 24-hour English language news and current affairs channel, CNN IBN.
