Viacom18 now a direct subsidiary of Reliance. CCPS conversion complete

Viacom18 is now a direct subsidiary of Reliance Industries following the conversion of 246.1 million CCPS into equity shares. The move aligns Viacom18 with Reliance's media expansion strategy

Viacom18 Media, a leading media and entertainment company, is now a direct subsidiary of Reliance Industries Ltd (RIL). This follows the conversion of 246.1 million compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares, formalised on December 30, 2024, and announced in an exchange filing on Tuesday.

 

Background and shift in ownership

Previously, Viacom18 was a material subsidiary of Network18 Media & Investments Ltd, itself a subsidiary of RIL. The recent conversion grants RIL an 83.88 per cent stake in Viacom18’s total equity share capital and maintains its 70.49 per cent control on a fully diluted basis.

 

 

This change, approved by Network18 shareholders, officially ended Network18’s control over Viacom18. The conversion of 246,133,682 CCPS into equity shares now places Viacom18 directly under Reliance’s umbrella.

 

Viacom18’s ownership structure and RIL’s media expansion

Before this transition, RIL’s stake in Viacom18 included 55,727,821 equity shares and 246,133,682 CCPS, together amounting to 70.49 per cent on a fully diluted basis. The conversion strengthens RIL’s control over Viacom18, firmly integrating the company into the conglomerate.

 

In March 2024, RIL acquired an additional 13.01 per cent stake in Viacom18 from Paramount Global for Rs 4,286 crore, boosting its holding to 70.49 per cent. The media empire saw further expansion in November 2024 with the merger of RIL’s media operations and the India business of Walt Disney. The merger, valued at over Rs 70,000 crore, included Viacom18’s media and JioCinema operations merging with Star India.

 

Impact on Reliance’s media strategy

With Viacom18 now a direct subsidiary, its future will closely align with RIL’s broader media and entertainment strategy. This move reinforces Reliance’s dominance in India’s media sector, especially post the merger with Disney’s Indian operations.

 

RIL continues to expand its presence in the media space, integrating streaming platforms like JioCinema and establishing itself as a significant player in content production and distribution.

 

Viacom18 CCPS conversion, Reliance Viacom18 subsidiary, Network18 exits Viacom18, Reliance media expansion, Walt Disney India merger, Viacom18 ownership, Reliance JioCinema, Reliance 83.88% stake Viacom18, Indian media industry, Viacom18 equity conversion