Paramount Global Sells Stake In Viacom18 To India’s Reliance For $500 Million

Paramount Global has sold its 13% equity interest in Viacom18 Media to Indian conglomerate Reliance Industries for the equivalent $517 million.

The close of the transaction, revealed in an SEC filing, is subject to regulatory approval and the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.

After the closing, Paramount will continue to license its content to Viacom18.

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