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Although details have not been revealed on how the transaction would happen, the offer would make Sony the majority owner operating the company, with Apollo taking a minority stake in the joint venture.

According to a survey by Ampere Analysis, Paramount+ was the platform to see the largest boost in active viewers, with a monthly growth of 22%.

The offer arrived after a week where it was rumored that the company was in talks to acquire Paramount's studio.

The ad-supported plan will launch in Canada in April and in Australia in June.  Premium tier will roll out across Europe, starting with France in March, followed by the UK, Ireland, Germany, Switzerland, Austria and Italy later this year.

With this acquisition, Reliance Industries, a multinational conglomerate already the majority shareholder in Viacom18, will solidify its position further in the Indian media landscape.