Paramount Global is in discussions to sell its stake in its media joint venture in India to Mukesh Ambani’s Reliance Industries, as Asia’s richest man continues to consolidate his clout in one of the world’s fastest-growing entertainment markets, Bloomberg’s Sanjai P R and Christopher Palmeri report, citing people familiar with the matter. The company has been in advanced talks to sell its minority stake in Viacom18 Media Pvt. to Reliance, said the people.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PARA:
- Warner Bros Discovery (NASDAQ:WBD) Slips despite Dune 2 Success
- Macquarie reduces FY24 estimates further for Paramount
- Box Office Battle: âDune 2â wins weekend with big $81.5M debut
- Paramount price target lowered to $15 from $19 at Citi
- Paramount price target lowered to $15 from $17 at Seaport Research
