India's Network18 up 6% on Viacom18-Warner content streaming deal

Network18 Media & Investments

27/04/2023 08:52

** Shares of Network18 Media & Investments Ltd  NEFI.NS 
rise as much as 5.91% to 58.25 rupees
    ** Rise in the media and entertainment company's stock comes
after Reliance Industries'  RELI.NS  broadcast venture Viacom18
struck a deal with Warner Bros Discovery Inc.  WBD.O  for its
streaming platform JioCinema  urn:newsml:reuters.com:*:nFWN36U0TA
    ** Viacom18 is a joint venture between Network18, a
subsidiary of Reliance Industries and Paramount Global
    ** Deal seen as a push into bringing popular Hollywood
content on JioCinema; television series to premier on JioCinema
on the same day as the U.S.
    ** Deal to include exclusive content rights across digital
and linear platforms
    ** Trading volume is 1.52 mln shares as of 1:15 p.m. IST,
0.7x the 30-day avg of 2.16 mln shares - Refinitiv data




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))