TV18 To Acquire Stake In Viacom…Or Is It The Other Way Around?

TV18 is joining forces with Viacom, as per a rather sketchy story in the Hindustan Times. Quoting sources the report claims that the tie-up could involve equity participation from TV18 – so are they looking to buy a stake in Viacom or vice versa, or are they planning a joint venture? TV18 group companies (Global Broadcast News, Network 18 Fincap and Television 18) are in the process of raising $1 billion to finance a deal. Details at HT.

HT had earlier reported that TV18 group company GBN is in the process or raising $200 million from either the LSE or EuroNext. Sameer Manchanda, JMD of GBN had said then that “The media sector is on a growth path and we sense attractive opportunities. Our business plan will continue to reflect market trends.” At present, the TV18 share is at Rs.725.50 on the Bombay Stock Exchange, up Rs. 18.90; Network18 Fincap is at Rs. 528.60, up Rs.12.85, while GBN is at Rs.683, up Rs. 2.90.

Disclaimer: I own an inconsequential number of shares of some TV18 group companies

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