According to a recent filing with the BSE, Viacom 18 has completed a strategic partnership deal with Reliance, Bodhi Tree Systems and Paramount Global. Viacom 18 Media Private Limited is a subsidiary of TV-18 Corporation.

The media release further discussed Viacom 18’s aim to transform the digital space with Rs 15,145 crore in cash. The strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global will focus on the media and entertainment sector, and Viacom 18 will continue as a majority-owned subsidiary of TV-18.

Shares of TV-18 were trading at Rs 31.15, up 3.15%, on the BSE at 12:12 pm on April 17, ahead of the fourth-quarter earnings announcement later today. It is also to be noted that TV-18 recorded a 12.8% increase in operating income at Rs 1,768 crore in the third quarter.

As a result of the execution of the above transaction, the equity interest in Viacom 18 will be TV-18 (50.994%), Paramount Global (48.994%) and Bodhi Tree (0.011%). On a core holding basis, the RIL group entity will hold 82.2%, while Bodhi Tree will hold 17.8%. On a fully diluted basis, ownership will be: RIL Group Entities 60.37%, TV-18 13.54%, Linden 13.08%, and Paramount Global 13.01%.

“The partnership will enable Viacom 18 to innovate and disrupt the M&E industry. Uday Shankar and James Murdoch provide strategic and operational guidance to Viacom 18, leveraging their track record in building iconic media businesses,” the filing said.