Former Star and Disney India Chairman Uday Shankar and media tycoon Rupert Murdoch’s son James Murdoch are planning to acquire nearly 40% stake in Viacom18, as per media reports.
Reportedly, Shankar and Murdoch are planning to invest over Rs 12,000 crore in the entertainment and sports broadcasting. The major part of the investment is likely through primary infusion of funds. According to reports, the deal will be finalized in 2-3 weeks. In December 2021, Uday Shankar has taken 51% stake in James Murdoch’s entity Lupa India.
Reportedly, in 2019 Comcast and James Murdoch’s Lupa Systems were in talks to buy a controlling 51 percent stake in Zee Entertainment but were rebuffed and instead ZEEL sold the stakes to U.S. investment group Invesco.
