Photo: Abhijit Bhatlekar/MintTV18 Broadcast Ltd on Wednesday said it will take operational control of Viacom18 Media Pvt. Ltd, a equal joint venture between TV18 and US-based media company Viacom Inc.TV18 will raise its stake in the company to 51% by acquiring 1% of Viacom18’s equity from Viacom for a cash consideration of $20 million, the company said in a statement. Viacom and Viacom18 have also extended their brand and content licence agreement by 10 years (the original 10-year agreement expired this year). TV18 and Viacom18 Media Pvt. Ltd also have a joint venture IndiaCast for distribution of TV channels.

Source: Mint January 31, 2018 15:22 UTC