With this acquisition, Reliance Industries, a multinational conglomerate already the majority shareholder in Viacom18, will solidify its position further in the Indian media landscape.
The private equity firm is allegedly in talks to acquire the entire of Paramount's assets, however it may also look to bid on specific assets within the conglomerate.
Paramount Global's subscription revenue grew 43% to $1.34 billion from $936 million the previous year, driven by subscriber growth and pricing increases for Paramount+.