India's Reliance to buy Paramount's stake in Viacom18

India's Reliance to buy Paramount's stake in Viacom18

Photo: Glenn Carstens Peters / Unsplash.com

India’s Reliance Industries has agreed to buy Paramount Global’s entire 13.01% stake in local entertainment network Viacom 18 Media for about $517 million (42.86 billion Indian rupees), the US company said in a regulatory filing.