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Viacom18

All articles tagged with #viacom18

business1 year ago•3 min saved

Disney and Reliance Finalize $8.5B Merger to Dominate Indian Media Market

Disney, Reliance Industries, and Viacom18 have finalized a merger to form a major joint venture in India's media and entertainment sector, valued at $8.5 billion. Reliance has invested $1.4 billion into the venture, which combines Star India, Viacom18's media assets, and JioCinema. The new entity, controlled by Reliance, will be one of India's largest media companies, offering extensive TV and digital content. The deal has received regulatory approvals from multiple countries, including India and the EU.

via Hollywood Reporter|

#business #disney #indian-entertainment

business-entertainment2 years ago•3 min saved

"Reliance Industries Acquires Paramount Global's Stake in Viacom18 for $517M"

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.

via Yahoo Finance|

#business-entertainment #disney #india

business-manda2 years ago•2 min saved

Reliance Industries Acquires Paramount's Viacom18 Stake for $570M

Paramount Global is selling its 13% stake in Indian broadcasting unit Viacom18 to Reliance Industries for over $500 million, as part of its efforts to delever its balance sheet. The deal reflects Paramount's focus on licensing content and improving financials, while also indicating the tough market conditions in India. With the M&A rumor mill in full swing, Paramount's CEO has expressed openness to deals in order to create shareholder value, as the company navigates the competitive streaming space.

via Yahoo Finance|

#business-manda #india #paramount-global

business2 years ago•1 min saved

Paramount Global Offloads 13% Stake in Viacom18 to Reliance for $517M

Paramount Global has sold its 13% stake in Indian TV and streaming company Viacom18 to Reliance Industries for $517 million, as part of efforts to strengthen its balance sheet. This comes after Reliance's merger with Disney's Star India and Viacom18. The sale is subject to regulatory approvals and completion of the joint venture involving Reliance, Viacom18, and Star Disney, with Paramount continuing to license its content to Viacom18 after the closing.

via Variety|

#business #indian-entertainment-industry #paramount-global

business2 years ago•1 min saved

Paramount Global Offloads Viacom18 Stake to Reliance for $517M

Paramount Global is selling its 13 percent stake in Indian media company Viacom18 to Reliance Industries for approximately $517 million. Reliance, which is already the majority shareholder in Viacom18, has recently formed a joint venture with Disney's Star India, with Reliance investing $1.4 billion into the JV. The deal is subject to regulatory conditions and the completion of the joint venture involving Reliance, Viacom18, and Star Disney. Despite the sale, Paramount will continue to license its content to Viacom18. This comes amid uncertainty about Paramount's future, with talks of a possible merger with Warner Bros. Discovery and a $30 billion offer from media mogul Byron Allen.

via Hollywood Reporter|

#business #joint-venture #media

business2 years ago•1 min saved

Reliance's Viacom18 to Acquire Majority Stake in Disney's India Unit

Reliance-backed Viacom18 is set to acquire 60% of Disney's India unit, valued at $3.9 billion, creating a potential $10 billion media giant in the South Asian market. The deal, expected to close this month, will see Disney retaining 40% ownership, while Reliance will acquire 51% and Bodhi Tree Systems will hold 9%. Viacom18's growth in popularity, particularly after securing the five-year rights to stream IPL cricket matches, has impacted Disney's Hotstar dominance in the Indian video streaming landscape. The merger reunites former Star India CEO Uday Shankar and James Murdoch, who formed Bodhi Tree with backing from Qatar Investment Authority.

via TechCrunch|

#business #disney #india

technology2 years ago•1 min saved

"JioCinema sets world record with free streaming of IPL 2023 final between CSK and GT"

JioCinema, the Indian streaming app backed by Mukesh Ambani's Reliance, broke the world record for the most concurrent views to a live streamed event, attracting over 32 million viewers to the final game of the Indian Premier League cricket tournament. The previous record was held by Disney's Hotstar, which drew 25.3 million simultaneous viewers for a cricket match in 2019. Viacom18, whose largest investor is Reliance, secured the digital rights for IPL for a five-year period until 2027 and is offering free streaming of the tournament to audiences across South Asia through JioCinema.

via TechCrunch|

#cricket #hotstar #jiocinema

business2 years ago•1 min saved

JioCinema introduces premium subscription plan for exclusive content.

Mukesh Ambani's JioCinema has announced premium pricing of 999 Indian rupees ($12) a year for Hollywood content, its first step to move away from a free content model to fight global rivals such as Netflix and Disney in India. JioCinema has become popular for showing the IPL cricket tournament on the platform for free in the ongoing season. Viacom18 won the IPL digital streaming rights from 2023 to 2027 for around $2.9 billion, rights which Disney previously held.

via Reuters|

#business #disney #jiocinema

entertainment2 years ago•2 min saved

Warner Bros and Viacom18 partner for exclusive content in India with Reliance JV and JioCinema.

Warner Bros Discovery has signed a multi-year licensing deal with Viacom18's JioCinema service to become the new streaming home of HBO, Max Original and Warner Bros content in India starting next month. The partnership includes exclusive content rights across digital and linear, covering HBO series, Max Original series, and upcoming Warner Bros movies and library titles. The deal replaces the streaming partnership that Warner Bros Discovery previously had with Disney+ Hotstar for India.

via Deadline|

#entertainment #india #jiocinema