"Reliance Industries Acquires Paramount Global's Stake in Viacom18 for $517M"
TL;DR Summary
US media giants Paramount and Disney are selling their stakes in India's Viacom18 and merging their India assets with Reliance Industries, respectively, due to challenges in profitability and monetization in the region. Paramount's heavy debt load and Disney's struggle with Hotstar subscribers after losing rights to stream Indian Premier League Cricket matches to Reliance have contributed to their decisions. Despite India's significant advances in the media and entertainment industry, the current challenges and geopolitical tensions make it a less favorable time for further investments in riskier overseas markets.
- Why US media giants are stepping back from India Yahoo Finance
- Paramount Global Sells Stake in Viacom18 for $517M Hollywood Reporter
- Paramount Global Sells Viacom18 Stake to Reliance Industries for $517 Million TheWrap
- Paramount Global Sells Stake in Viacom 18 Media to Reliance Industries The Wall Street Journal
- Reliance buys Paramount’s stake in Indian media Viacom18 for $517 million TechCrunch
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