Previously, Viacom18 was a subsidiary of Network18 Media & Investments Limited. However, with shareholder approval under Regulation 24

Viacom18 Media, a media and entertainment company, has become a direct subsidiary of Reliance Industries following the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.

RIL had on December 30, 2024 converted over 24 crore preference shares into equity shares thus making Viacom18 its wholly-owned subsidiary.

Viacom18 is now a direct subsidiary of Reliance Industries following the conversion of 246.1 million CCPS into equity shares. The move aligns Viacom18 with Reliance's media expansion strategy