IBN18

IBN18 Broadcast picks 43.4% stake in Vaicom18 for $62.5 million

IBN18 Broadcast picks 43.4% stake in Vaicom18 for $62.5 millionIBN18 Broadcast Ltd has reported that its board has approved the acquisition of a 43.4 percent stake in Vaicom18 Media Pvt. Ltd from BK Holdings a subsidiary of Television Eighteen India Ltd. for $62.5 million.

With this acquisition, IBN will own 50 percent in Viacom18. The consideration will include $50.5 million for the transfer of stake as well as a sum of $ 12 million as option premium (inclusive of costs of funding).