Viacom Acquires 50% Stake in Indian Regional Networks
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Viacom (VIAB) Takes 50% Stake in Prism TV Private Ltd. for ~$153M
July 31, 2015 8:21 AM EDTViacom (NASDAQ: VIAB) announced that it has acquired a 50% interest in Prism TV Private Limited for 9.4BN rupees (approximately $153M USD). Prism TV owns and operates regional entertainment channels in India, including ETV Marathi, ETV Kannada, ETV Bangla, ETV Oriya and ETV Gujarati, all of which were recently rebranded under the COLORS umbrella.
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% owned by Reliance Industrial Investments and Holdings Limited, a wholly owned subsidiary of Reliance Industries... More
