Viacom18 becomes direct subsidiary of Reliance Industries

RIL’s subsidiary, Viacom18 Media, has become a direct subsidiary of Reliance Industries after converting 24.61 crore CCPS into equity shares. Previously, Viacom18 was a material subsidiary of Network18 Media & Investments Ltd, which was a subsidiary of RIL. Following the conversion, RIL now holds 83.88% of Viacom18’s equity share capital.