Viacom Inc, US and the TV18 Group today announced the creation of a new 50:50 joint venture operation christened Viacom-18.
According to an official release issued by TV18 Group firm Network 18 Fincap to the BSE today, the strategic alliance will include television, film and digital media content across brands to build a multi-platform entertainment company.
As part of the agreement, Viacom-18 will launch a new Hindi-language general entertainment cable and satellite channel in the country within the next year. It will include original, locally produced programming and acquisitions. MTV Networks (MTVN), a unit of Viacom, will contribute its local networks, MTV, Vh1 and Nickelodeon India, to the joint venture. Viacom-18 will also launch a further suite of targeted channels in the future from the MTV Networks portfolio, as well as new brands, Digital media content across all the television brands will be developed and distributed to Indian consumers. The joint venture will also syndicate MTVN programming and newly produced content.
Read more in The Business Standard article.
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