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Viacom18 Media Becomes Direct Subsidiary of RIL
Hindustan Times Patna
|January 02, 2025
Viacom18 Media, a leading media and entertainment company, has become a direct subsidiary of Reliance Industries following the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.
NEW DELHI:
Earlier, Viacom18 Media was a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).
On December 30, billionaire Mukesh Ambani-led RIL converted 24,61,33,682 CCPS into the equivalent of a share, following approval granted by the shareholders of Network18.
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