Top Story

e4m_logo.png

Home >> Media - TV >> Article

Viacom acquires 50% stake in Indian regional networks

31-July-2015
Font Size   16
Viacom acquires 50% stake in Indian regional networks

Viacom Inc today 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 Limited.  The parties received clearance from India’s Foreign Investment Promotion Board earlier this month.

With this acquisition, Viacom Inc. will hold 50% of Prism TV and the remaining 50% interest will continue to be owned by the Network18 Group, Viacom’s partner in the Viacom18 joint venture.  Viacom18 is the fastest growing entertainment network in India, operating 10 channels including MTV, Nickelodeon, Comedy Central and COLORS, a leading Hindi general entertainment brand.  The deal gives Viacom a significant presence in the fast growing regional TV sector in India, where almost 60% of the population of more than 1.2 billion people speak regional dialects as their first language. Collectively, regional TV stations account for the second largest share of viewing in the Indian market, behind only Hindi general entertainment channels.

Philippe Dauman, President and CEO of Viacom, said: “We’re thrilled to be broadening our presence in one of the largest and fastest growing TV markets in the world, and deepening our already strong partnership with Network18.  This acquisition is an important step in building on our leadership position in India, a key market in Viacom’s international growth strategy.”

A P Parigi, Group CEO Network18, said: “This acquisition by Viacom International Media Networks further strengthens the partnership with Network18 both in terms of depth and breadth. I am confident India will emerge as a global entertainment powerhouse in the year ahead.”

Bob Bakish, President and CEO of Viacom International Media Networks, said: “Regional TV networks – and regional ad markets – are the next wave of growth in India.  Having a strong national and broad regional presence gives us a powerful platform to launch additional brands, and introduce successful franchises and formats across India.”

Sudhanshu Vats, Group CEO Viacom18, said: “This acquisition is a big milestone for Viacom & Network 18 and it showcases their combined conviction to build a powerful broadcast offering for the Indian market.  We are delighted by the transaction and the next growth phase for the companies.”

Tags Viacom18 ETV

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

In terms of affiliates, India ranks on the top. Spurred by the fast growth of mobile users and hence internet users, there are millions of websites, apps, WAP-sites and blogs using affiliate marketing...

Insecurity in the workplace due to the idea of AI encroaching on your job, or being sidelined at work because of your small town background? Sandeep Goyal has the right answers to help you deal with w...

As National Sales Head at News18.com, Ashish aims to bring on board a maximum number of advertising partners and consolidate the network’s position as a leader in the space.