| MUMBAI:
The process of transfer of ownership of Viacom18 from Television Eighteen India
Ltd to IBN18 Broadcast Ltd got the IBN18 board's go ahead late 28 January evening.
IBN18 will be acquiring 43.4 per cent of Viacom 18 Media Pvt Ltd from BK Holdings
a subsidiary of Television Eighteen India Ltd. The
tab for the acquisition: $62.5 million ($50.5 million for the transfer and $12
million as option premium - inclusive of costs of funding).
As
of end December 2008, IBN18 had acquired 6.6 per cent of Viacom 18 and the latest
move places its equity stake in the company at 50 per cent. Viacom18 runs channels
such as MTV, VH1, Nickelodeon, and Colors. | 
