Mukesh Ambani’s Rs 2035000 crore company may spend huge in another media deal, planning to buy…

Mukesh Ambani is currently the richest man in India with a net worth of more than Rs 975819 crore. He recently made it to the news for his son Anant Ambani’s pre-wedding bash and for a massive deal with Disney India to create a Rs 70000 crore behemoth. Mukesh Ambani is the chairperson of Reliance Industries which is the most valuable company in India with a market cap of over Rs 203500 crore. Mukesh Ambani is involved in a wide range of businesses and it appears that his Reliance Industries is now paying special attention towards media conglomerates. As per a report by Bloomberg, Mukesh Ambani’s Reliance Industries may soon buy big from Paramount Global. For those who are unaware, Paramount Global is a massive media conglomerate and popular channels including MTV, Nickelodeon, Comedy Central and others are owned by the media giant.

Report by Bloomberg suggests that Mukesh Ambani’s Reliance is in advanced talks to buy Paramount Global’s minority stake in Viacom18 Media Pvt. Reliance’s investment in Viacom18 has already helped him to make a shift from fossil fuels-led conglomerate toward consumer-facing and technology-led business.

Bloomberg believes that the sale of a minority stake of Viacom18 to Mukesh Ambani’s Reliance can generate as much as Rs 4555 crore that Paramount Global may use toward debt reduction. Paramount’s stake in via Viacom18 recently shrink after Reliance and Disney signed a binding agreement last month to merge their Indian media operation.