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Reliance Industries to buy out Paramount's 13.01% stake in Viacom18 for $517 million
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₹42.86 billion), the company has informed as per US regulatory filings. Viacom18, which counts Comedy Central, Nickelodeon, and MTV among its 40 television channels, is predominantly owned by Reliance.
Paramount confirmed it would maintain its content licensing agreement with Viacom18 after the deal's closure, Reuters reported. Currently, its content is accessible via Reliance's JioCinema platform.
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