News Viacom completes acquisition of 50% stake in 5 regional GECs of Network18 for Rs 940 crore

[Deepu]

US media conglomerate Viacom Inc. has completed its acquisition of 50 per cent interest in Prism TV Pvt Ltd for Rs 940 crore (Rs 9.40 billion). The acquisition, which was recently approved by the Foreign Investment Promotion Board (FIPB), gives Viacom a 50 per cent share in five regional channels – Colors Marathi, Colors Kannada, Colors Bangla, Colors Oriya and Colors Gujarati. The transaction was completed today between Nickelodeon Asia Holdings Pte Ltd., a wholly owned subsidiary of Viacom Inc., and Shinano Retail Private Limited, a company effectively 100 per cent owned by Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries Limited. While Viacom will hold 50 per cent stake in the above mentioned channels, the remaining 50 per cent stake in Prism TV will continue to be with Network18 Group.

Read more at: http://www.televisionpost.com/television/viacom-completes-acquisition-of-50-stake-in-5-regional-gecs-of-network18-for-rs-940-crore/ | TelevisionPost.com

 

[scorpionking76]

Slowly and steadily M&A are happening in regional spaces as well. Down the line 5 years we will only have Star, Zee, Sun, Viacom leading the Indian market

 

[Technoglitch]

M&A?

 

[IndianMascot]

So, the deal is completed now with official announcement coming up.

 

[scorpionking76]

M&A?

Merger and Acquisitions

 

[Technoglitch]

yes, we can expect more mergers in future and lots of small broadcasters to come up.

 

[scorpionking76]

Technoglitch bro, M&A means big fish eating the smaller ones, so there will be monopoly in the market and price fixations will play a major role unless TRAI is not stronger