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Merged star India-Viacom18 to be cash rich by over Rs 19k cr
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Mumbai: The newly merged entity of Star India and Viacom18 will boast a strong cash position exceeding ₹19,000 crore, factoring in Viacom18's current cash reserves and investments of ₹7,829 crore, and an infusion of ₹11,500 crore from Reliance Industries (RIL), officials close to the development said. Star is, however, unlikely to have any cash reserves currently, the people said.
The cash pile will empower Star-Viacom18 to make major investments in its digital and sports businesses, which are anticipated to be loss-making in the short term.
As per the agreement with Walt Disney, RIL will inject ₹11,500 crore into Star-Viacom18, gaining a controlling 56% stake.
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