TV18 to buy 50% in MTV India for Rs 200 cr

The Television Eighteen Group (TV18) is picking 50% equity stake in MTV Networks India (MTVI) for Rs 200 crore. MTVI, which is part of media giant Viacom, is engaged in marketing and distribution of TV channels — MTV, VH1 and Nickelodeon. This is one of the rare instances of an Indian company picking up equity in a hitherto wholly-owned subsidiary of a foreign major.

The deal is part of the strategic alliance between Viacom and the TV 18 Group announced in May this year. That TV18 would directly pick up equity in MTVI was not disclosed at that time. As of now, the existing TV channels are being uplinked from Singapore.