Uday Shankar & James Murdoch to acquire nearly 40% in Viacom18?

After the ZEE-Sony merger, the latest buzz doing the media industry in India is that Uday Shankar and James Murdoch will be acquiring a 40% stake in Viacom18.

It is worth stating that Shankar and Murdoch, previously headed Star India operations. Shankar was the Star and Disney India Chairman, while Murdoch is known as the son of Rupert Murdoch.

Economic Times reports that Singapore-headquartered Asia Initiatives, a 51:49 joint venture between Shankar and Murdoch’s private investment company Lupa Systems, is in talks with ViacomCBS and Reliance Industries. The deal could be concluded in February.

Reliance is expected to retain majority stake in Viacom18.