Viacom18 Transitions to Direct Subsidiary of Reliance Industries Limited

Viacom18 Media, a prominent media and entertainment company, is now a direct subsidiary of Reliance Industries Limited (RIL). This transition occurred after the conversion of 24.61 crore compulsorily convertible preference shares (CCPS) into an equal number of equity shares on December 30, 2024, following shareholder approval from Network18 Media & Investments.

Previously, Viacom18 was a material subsidiary of Network18, a part of the Reliance Industries group. However, with this development, Network18 no longer holds control over Viacom18. In a regulatory filing, RIL stated, “Viacom18 has become a subsidiary of the company effective December 30, 2024, and has ceased to be a subsidiary of Network18.”

Before the conversion, Reliance Industries owned a 70.49% stake in Viacom18 on a fully diluted basis. Post-conversion, RIL now holds 83.88% of Viacom18’s equity share capital. The filing also highlighted that this ownership structure includes 5.57 crore equity shares and 24.61 crore CCPS, reflecting Reliance’s significant stake in the media entity.

This development further consolidates Reliance Industries' influence in the media and entertainment sector, underscoring its strategic expansion in this domain.