The wait is finally over as the government has given its go-ahead to the US media conglomerate Viacom Inc to be the 50 per cent owner of the five regional channels—Colors Bangla, Colors Marathi, Colors Gujarati, Colors Kannada and Colors Odia. Viacom will shell out Rs 940.4 crore (Rs 9.40 billion) to acquire the stake, following which these channels will be transferred to Viacom18. The Foreign Investment Promotion Board (FIPB) has approved the proposal of Nickelodeon Asia Holdings Pte Ltd (Singapore), a Viacom company, to purchase the entire holdings of Reliance Industries Ltd-owned Shinano Retail Pvt Ltd (India) in Prism TV Pvt Ltd, the owner of the five TV channels.
Read more at: http://www.televisionpost.com/television/viacom-gets-fipb-nod-to-pick-up-50-stake-in-5-regional-channels-for-rs-940-cr/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/television/viacom-gets-fipb-nod-to-pick-up-50-stake-in-5-regional-channels-for-rs-940-cr/ | TelevisionPost.com
