Posted 3/14/2024, 4:16:16 PM
Paramount Sells Part of Viacom18 Stake to Reliance for $517M, Retreats from Challenging India Market
- Paramount selling 13% stake in Viacom18 to Reliance Industries for $517 million
- Part of Paramount's efforts to delever balance sheet and improve financials
- Paramount will continue licensing content to Viacom18 after sale
- Licensing becoming popular option for media cos seeking profitability
- Paramount retreating from tough India market, will rely on lower investment models in unmatched markets