Paramount Global to sell Viacom18 stake to Reliance?

Paramount Global is reportedly in talks with Mukesh Ambani’s Reliance Industries Limited to sell its minority stake in Viacom18 Media Pvt.

Bloomberg reports that the talks are still underway so a deal could go either way. Paramount is the parent company of CBS, MTV and other networks.

Just a few days ago, Disney and Reliance struck a binding agreement to merge their India media operations. The new entity will see Reliance take up 63% stake in the new $8.5 billion group, with Disney holding the remainder.

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