Merger concludes! Viacom18-Star India valued at Rs 70,000 cr
Viacom18's TV and digital businesses into Star India securing all necessary regulatory approvals in India and abroad.
In February, Reliance Industries (RIL), Viacom18 Media and The Walt Disney Company had signed an agreement to combine Viacom18 and Star India's assets to create India's largest M&E company valued at ₹70,352 crore ($8.5 billion).
Additionally, RIL has invested ₹11,500 crore ($1.4 billion) into the joint venture -Star India, also known as Jio Star-to be chaired by Nita Ambani with Uday Shankar as vice chairperson, providing strategic guidance.
RIL has also bought out Paramount Global's 13.01% stake in Viacom18 for ₹4,286 crore, increasing its holding to 70.49%, followed by 15.97% by Bodhi Tree Systems and 13.54% by Network18 Media & Investments, on a fully diluted basis.
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