TV-18 spurts 3% on the back of a strategic deal for subsidiary Viacom 18

TV18

Viacom 18 has completed the transaction for strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global, according to a recent filing with the BSE. Viacom 18 Media Private Limited is a subsidiary of the TV-18 company.

The media release further discussed that Viacom 18 is aiming to transform the digital space with a cash of Rs 15,145 crore in its kitty. The strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global will focus on the media and entertainment sector and Viacom 18 will continue to be a controlled subsidiary of TV-18.

The TV-18 share was trading at Rs 31.15, or 3.15 percent higher, on the BSE at 12:12pm on April 17 with the Q4 earnings expected later today. It is also to be noted, that TV-18 registered 12.8 percent rise in operational revenue at Rs 1,768 crore in Q3.

As a consequence of the closing of the transaction elaborated above, the shareholding of Viacom 18 will be TV-18 (50.994 percent), Paramount Global (48.994 percent) and Bodhi Tree (0.011 percent). On a core holding basis, RIL group entities will hold 82.2 percent, whereas Bodhi Tree will hold 17.8 percent. On a fully diluted basis, the ownership will be: RIL group entities 60.37 percent, TV-18 13.54 percent, Bodhi Tree 13.08 percent, Paramount Global 13.01 percent.

“The partnership will enable Viacom 18 to innovate and disrupt the M&E sector, with Uday Shankar and James Murdoch providing strategic and operational guidance to Viacom 18, leveraging their track-record of building iconic media businesses,” said the filing.

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