TV18 Broadcast

MUMBAI: TV18 Broadcast (NSE: TV18) and Viacom Inc (NASDAQ: VIAB), joint-venture partners in Viacom18 Media Private Limited Wednesday announced that TV18 shall take operational control of Viacom18. TV18 shall raise its stake to 51 per cent by acquiring 1 per cent of Viacom18’s equity from Viacom Inc. for a cash consideration of $20 million. The brands and content licence agreement between Viacom Inc. and Viacom18 also gets extended by ten years.