Paramount Global in Advanced Talks to Sell Minority Stake in Viacom18 Media to Reliance

Paramount Global, the New York-based media conglomerate, is currently engaged in discussions to sell its minority stake of 13% in Viacom18 Media Pvt to Mukesh Ambani’s Reliance, according to sources familiar with the matter.

The negotiations, reported to be in advanced stages, come as Paramount Global aims to alleviate its financial burdens through strategic asset sales, including the recent divestment of the Simon & Schuster book publishing arm. The potential sale of the Viacom18 stake is anticipated to generate around $550 million.

In a recent development, Viacom18 Media Private Limited and The Walt Disney Company have officially announced binding definitive agreements to establish a joint venture (JV). This venture will amalgamate the operations of Viacom18 and Star India, with a transaction value of ₹70,352 crore (US$ 8.5 billion) on a post-money basis, excluding synergies.

Upon completion, the JV will be under the control of Reliance Industries Limited (RIL), owning 16.34%, with 46.82% held by Viacom18 and 36.84% by Disney. Disney may also contribute additional media assets to the JV, contingent on regulatory and third-party approvals. The strategic moves underline a significant shift in the media landscape, marking a new era for Viacom18 and its partners