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Breaking TV18 completes acquisition of Viacom shares

Manu

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MUMBAI: TV18 is now officially in control of the Viacom18 joint venture in which the US partner, Viacom Inc (Viacom), was a majority holder till now with 51 per cent. In an announcement to the Bombay Stock Exchange (BSE), it said that the formalities of the transfer of 1 per cent shares from Viacom’s paid up equity capital to TV18 had been successfully completed.

A statement to the BSE said, “With this acquisition, the company has acquired control and now holds 51 per cent of the equity share capital of Viacom18.”

In January, the companies had announced the decision to transfer power in the hands of TV18 for $20 million (Rs 127 crore). In the meantime, deals for content licensing and brands between Viacom and Viacom18 also got extended by a decade.

TV18 completes acquisition of Viacom shares
 

DreamFan

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It's mean Colors, MTV, VH1, Nick, Rishtey Cineplex all are TV18 Network's channels including News18 channels, Not Viacom18 from now. Right?
 

Vishnu777

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It's mean Colors, MTV, VH1, Nick, Rishtey Cineplex all are TV18 Network's channels including News18 channels, Not Viacom18 from now. Right?
The additional 1% stake gives TV18 the operational control of Viacom18. TV18 will now own 51% stake in Viacom18, which was an equal JV between TV18 and Viacom. Viacom will continue to own 49% stake in the JV.
 
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