NEW DELHI: Media conglomerate Viacom18 Media has become a subsidiary of Reliance Industries effective December 30, 2024, after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.
Earlier, Viacom18 Media had been a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).
“Consequently, Viacom18 has become a subsidiary of the Company effective December 30, 2024, and has ceased to be a subsidiary of Network18. The Company received intimation of allotment of equity shares from Viacom18 on December 30, 2024,” said RIL in a regulatory filing.
Source: PTI News
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