Viacom Inc. has finalized a $153-million deal that increases its presence in India with a 50% interest in the Prism TV group which operates five regional channels, reports Los Angeles Times. Viacom Chief Executive Philippe Dauman said that the investment in Prism was “an important step in building on our leadership position in India, a key market in Viacom’s international growth strategy.”
The deal extends Viacom’s partnership with India’s Reliance Industries, which owns the Network18 Group and the remaining 50% of Prism TV. “With today’s announced deal, Viacom moves further into the regional markets where growth is accelerating,” Wells Fargo Securities media analyst Marci Ryvicker wrote in a report.
