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Murdoch and Shankar ‘to acquire Viacom18 stake’

(Photo by Arturo Holmes/Getty Images for Tribeca Festival)

Media executives James Murdoch and Uday Shankar are in talks to buy a 39-per-cent stake in Indian broadcaster Viacom18, in a deal that would value the company at $4bn (€3.6bn), according to media reports.

India's Economic Times said the deal is aimed at strengthening Viacom18 amid increasing competition in the country's broadcasting sector, notably following news that media groups Zee and Sony are to merge to create a powerful new player.

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