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Mukesh Ambani's RIL boosts stake in Viacom18! Reliance Industries ups stake from 70.49% to THIS MUCH

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Viacom18 Media Private Limited has officially become a subsidiary of Reliance Industries Limited, effective December 30, 2024, as part of a massive corporate reorganisation. Previously, Mukesh Ambani-led Reliance owned a 70.
Mukesh Ambani's Reliance Industries Limited (RIL) has increased its stake in Viacom18 Media Private Limited from 70.49% to 70.84%. This move is part of RIL's strategy to consolidate its presence in the media and entertainment sector. The transaction involved RIL purchasing an additional 0.35% stake from Paramount Global, which now holds a reduced stake of 13.08% in Viacom18. This acquisition aligns with RIL's broader ambitions to expand its media footprint, especially in light of the evolving digital landscape and the integration of content across various platforms. The deal reflects RIL's ongoing commitment to enhancing its content offerings and strengthening its position in the competitive media market.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/markets/mukesh-ambani-s-ril-boosts-stake-in-viacom18-reliance-industries-ups-stake-from-70-49-to-this-much/ar-AA1wLy2t ]