Viacom18 started out in 2007 with three channels - MTV, Nickelodeon and Vh1 - and currently has 44 television channels across 80 countries in six different languages. It has also diversified into five lines of business, spawning broadcast, digital, films, merchandise and live events. Viacom18 reported total revenues of INR30,407 million in its last financial year 2016-17, representing over a 40-fold growth since inception.

The partners believe that in the fast-evolving Indian media and entertainment landscape, controlling ownership by TV18 can drive value-addition and synergies across the multi-platform group comprising broadcast, digital, filmed and experiential entertainment and media businesses.

Viacom will continue to hold 49% in Viacom18, and says that it shares TV18's vision for scalability and enhanced efficiency at Viacom18 Media. The brands and content licence agreement between parent companies Viacom Inc and Viacom18 will also be extended by ten years.

"We turned ten last year and our growth journey has been exciting to say the least," commented Viacom18 Group CEO Sudhanshu Vats. "None of this would have been possible without the support and commitment of both our partners. This development will allow us to leverage deeper synergies with Jio as we enter our next growth phase. As India's youngest full-play media organisation, we remain committed to winning the hearts of our audiences across all our on-air, on-line, in-store, in-theatre and on-ground businesses- and enriching the digital life of every Indian."