Viacom in talks to sell majority stake in China Operations: WSJ

By: | Published: January 13, 2019 7:54 PM

The move comes as the media conglomerate runs into trouble trying to scale its operations in the country after more than two decades of business there.

Viacom, China operations, MTV, Nickelodeon, china, Reliance Industries LtdViacom sold Reliance the majority stake in their venture last year. (Reuters)

Viacom Inc. is in talks to sell a majority stake in some of its China operations, the Wall Street Journal reported, citing people familiar with the matter. The New York-based company has had talks about a sale with at least one Chinese entity, the newspaper said, adding the discussions involved the potential sale of a majority share in Viacom’s channel brands, such as MTV and Nickelodeon, in China.

The move comes as the media conglomerate runs into trouble trying to scale its operations in the country after more than two decades of business there.

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The arrangement would be similar to the company’s joint venture with India’s Reliance Industries Ltd., the newspaper said. Viacom sold Reliance the majority stake in their venture last year.

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