Paramount Sells Part of Viacom18 Stake to Reliance for $517 Million Amid India Streaming Growth

• Paramount Global selling 13% stake in Viacom18 to Reliance Industries for $517 million • Reliance already majority shareholder in Viacom18, which owns streaming service JioCinema and TV channels • In February, Disney and Reliance forming joint venture combining Viacom18 and Star India • Reliance investing $1.4 billion into Disney partnership, valued at $8.5 billion
• Paramount will continue licensing content to Viacom18 after stake sale closes, future remains uncertain amid merger talks