Paramount Global s recent sale of its 13.01% stake in Viacom18 to Reliance Industries has allowed the company to exit its Indian joint venture with a profitable return on investment. Paramount fully divested from Viacom18 for ₹4,286 crore, while continuing content licensing agreements. The transaction is expected to close by the end of 2024 or early 2025, pending regulatory approval. The merger agreement between RIL, Walt Disney s Star India, and Viacom18 will impact the ownership structure, with RIL and Viacom18 set to hold a majority stake in the proposed merged entity.
Paramount Global: Its Paramount+ streaming service is available on Viacom18’s JioCinema as a content block under the premium subscription tier. Viacom18 will continue to operate TV channels under Paramount-owned brands like MTV, Vh1 and Nickelodeon.
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Sony Music India (SMI) has announced the appointment of Sangeetha Aiyer as director of promotions. Aiyer will lead SMI’s promotions strategy and activities across all media channels. She will report to Rajat Kakar, managing director, Sony Music India. Kakar said, “We are excited to have Sangeetha join us as we continue to build a future-ready company with best-in-class marketing promotions for releases from our wide roster of artists and soundtracks. Sangeetha brings a deep understanding of India’s emerging media landscape and will be a fantastic asset to Sony Music as we create new ways for our artists and strategic partners to engage fans across the country.”