Viacom18 Media Becomes Direct Subsidiary of Reliance Industries

Viacom18 Media, a prominent media and entertainment company, is now a direct subsidiary of Reliance Industries Ltd (RIL) after the conversion of 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.
Previously, Viacom18 Media was a material subsidiary of Network18 Media & Investments Ltd, itself a subsidiary of Reliance Industries. The shift in status follows a decision approved by Network18’s shareholders, allowing billionaire Mukesh Ambani-led RIL to convert the CCPS into equity shares on December 30.
The move signifies a strategic consolidation of Reliance Industries’ holdings in the media and entertainment sector. Viacom18 Media operates some of India’s most popular entertainment platforms, including Colors TV and JioCinema, and is a key player in the country’s evolving digital content landscape.
The direct ownership structure is expected to strengthen Reliance Industries’ control over Viacom18, aligning with its long-term vision of expanding its footprint in the media and entertainment industry. This development is seen as a step toward further integrating RIL’s resources and expertise into the growth and innovation of Viacom18’s operations.