By Chitra Somayaji, Bloomberg
Bangalore: Viacom Inc., owner of Nickelodeon and Paramount Pictures, and India’s Television Eighteen Group today said they’ll form a joint venture called Viacom-18 to start an entertainment television channel and create local programming.
Viacom-18 will launch the Hindi-language TV-channel in India within the next year, Television Eighteen Group said in a statement to the Bombay Stock Exchange on 22 May. The venture will also control New York-based Viacom’s MTV, Vh1 and Nickelodeon channels in India, according to the statement.
The Indian media group’s Global Broadcast News Ltd. unit will make the investment in the venture with Viacom, according to the statement.