Posted 3/13/2024, 10:19:00 PM
Paramount Sells Stake in Viacom18 to Reliance for $517M Ahead of Disney-Star India Merger
- Paramount Global sold its 13% stake in Viacom18 to Reliance for $517 million
- The sale comes 2 weeks after Disney and Reliance announced a $8.5B merger of their Indian TV and streaming businesses
- Viacom18 will merge with Disney's Star India as part of that deal
- The sale is part of Paramount's efforts to reduce debt and leverage
- After the sale closes, Paramount will continue licensing content to Viacom18
