Viacom18 Media becomes direct subsidiary of Reliance Industries

Viacom18 Media, a leading media and entertainment company, has become a direct subsidiary of Reliance Industries following the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.

Earlier, Viacom18Media was a material subsidiary of Network18 Media & Investments Ltd, a subsidiary of Reliance Industries Ltd (RIL).