Viacom18 Media Officially Transitions to Subsidiary Status Under Reliance Industries

Viacom18 Media has transitioned into a subsidiary of Reliance Industries Limited (RIL) as of 30 December 2024. This change occurred after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equal number of equity shares. Previously, Viacom18 was a significant subsidiary of Network18 Media & Investments Ltd, itself a subsidiary of RIL.

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RIL, led by Mukesh Ambani, converted 24,61,33,682 CCPS into equity shares on 30 December. This move made Viacom18 a direct subsidiary of RIL. Before this conversion, RIL held a 70.49% stake in Viacom18 on a fully diluted basis, which included both equity shares and CCPS.

Shareholder Approval and Stake Changes

Network18 shareholders approved Viacom18's transition from being its subsidiary. Consequently, Network18 ceased to control Viacom18. Following the conversion of the CCPS into equity shares, RIL now holds 83.88% of Viacom18's total equity share capital while maintaining a 70.49% stake on a fully diluted basis.

The regulatory filing from RIL confirmed the receipt of equity share allotment from Viacom18 on 30 December 2024. This development marks the end of Viacom18's status as a subsidiary under Network18.

Joint Venture with Walt Disney

On 14 November, RIL completed merging its media assets with Walt Disney's India business to form a joint venture valued at over Rs 70,000 crore. This venture resulted from integrating Viacom18's media and JioCinema businesses with Star India.

The newly formed entity allocated shares to both Viacom18 and RIL as compensation for assets and cash contributions. This strategic move aims to strengthen their position in the media landscape.

This restructuring highlights RIL's ongoing efforts to consolidate its media holdings and expand its influence in the industry. The changes reflect a significant shift in ownership dynamics within India's media sector.