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Paramount Global-B | 8-K: Paramount Global Entered Into a Transfer Agreement with Reliance Industries Limited

SEC announcement ·  Mar 14 04:54
Summary by Futu AI
On March 13, 2024, Paramount Global, a Delaware-incorporated media and entertainment company, reported in a Form 8-K filing with the SEC that it has entered into a Sale Agreement with Reliance Industries Limited. Under this agreement, Paramount's subsidiaries will sell their entire 13.01% equity interest in Viacom 18 Media Private Limited to Reliance for approximately $517 million, equivalent to 42,86,00,00,000 Indian rupees. The transaction is contingent upon regulatory approvals and the completion of a joint venture between Reliance, Viacom18, and Star Disney. Following the transaction's closure, Paramount will continue to license content to Viacom18.
On March 13, 2024, Paramount Global, a Delaware-incorporated media and entertainment company, reported in a Form 8-K filing with the SEC that it has entered into a Sale Agreement with Reliance Industries Limited. Under this agreement, Paramount's subsidiaries will sell their entire 13.01% equity interest in Viacom 18 Media Private Limited to Reliance for approximately $517 million, equivalent to 42,86,00,00,000 Indian rupees. The transaction is contingent upon regulatory approvals and the completion of a joint venture between Reliance, Viacom18, and Star Disney. Following the transaction's closure, Paramount will continue to license content to Viacom18.
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