MUMBAI: IBN 18 Broadcast has acquired a further 15.47 per cent in its group entity Viacom 18 Media for Rs 1.51 billion (Rs 151.14 crore), thus taking its stake in the entity to 50 per cent.
"IBN 18 Broadcast is now a 50 per cent shareholder in Viacom 18 Media following the acquisition of Television Eighteen India’s remaining 15.47 per cent stake in Viacom 18," the company said.
IBN has paid Rs 1.51 billion for acquiring the 15.47 per cent stake, which includes Rs 296.40 million (Rs 29.64 crore) as option premium. The company had earlier paid Rs 1.51 billion (Rs 151.95 crore).
Viacom 18 operates music and entertainment channels like Colors, MTV, Nick and Vh1.