Get the latest gossip
Paramount In Talks To Sell Stake In Viacom18 To Disney India Partner Reliance — Bloomberg
Paramount Global is reportedly in talks with Reliance Industries to sell its 13% stake in Indian content house Viacom18.
A Bloomberg report, citing unnamed sources, claims the MTV and Comedy Central owner is in talks with Reliance Industries to sell its stake in their channels and streaming venture, Viacom18. Disney was leading the streaming race after acquiring the Hotstar platform and merging it with Disney+ but after Bob Iger’s pivot to profitability of subscriber acquisition last year, it lost significant ground to rivals. Disney is also due to take a $2.4B impairment charge by writing down net assets of channel operator Star India.
Or read this on Deadline