Viacom, TV18 to roll-out Viacom-18 -Video

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.

Rel Cap buys 5% stake in Network 18

Reliance Capital, a Anil Dhirubhai Ambani Group firm, has acquired 5% stake in Network 18, the group holding company of broadcasters TV18 and GBN.

According to a release issued by Reliance Capital to the BSE today, the company has acquired 25.55 lakh shares, representing 5.02% stake in Network 18 Fincap, through open market transactions on May 10.When contacted, an RCL spokesperson confirmed the deal.

The transaction comes on the heels of RCL's open offer for acquiring 20 % stake in television broadcaster TV Today Network, which runs Hindi news channel Aaj Tak and English news channel Headlines Today.

The company had announced an open offer would be made at a price of Rs 130.50 per share amounting to approximately Rs 150 crore.