Sony To Merge With Viacom18 To Challenge Disney+ Hotstar Lead
Sony Picture Network and Viacom18, a joint venture with Reliance Industries-owned Network 18 and ViacomCBS, are looking at a merger to take on Disney+ Hotstar and other digital entertainment platforms in India. The two companies are said to be in the final stages of the talks.
Currently, Network18 owns 51% stake in Viacom 18, while Viacom holds the remaining 49%.Sony will own 74% stake in the merged entity, while Viacom18 will hold the remaining 26% once the deal is processed.
Raj Nayak, former Chief Operating Officer, Viacom 18 tweeted: “Interesting: Sony to own 74 per cent after merger with Viacom 18; ready for duel with Disney Star.”