Viacom18 has announced its merger with Prism TV. The merger will enable Viacom18 to integrate five regional channels, Colors Kannada, Colors Marathi, Colors Bangla, Colors Odiya, and Colors Gujarati, within its fold.
In 2015, Viacom18 had acquired a 50 per cent stake in Prism TV which owned and operated all the ETV channels.
Sudhanshu Vats, Group CEO, Viacom18, says in a press release, "The regional entertainment broadcast pie commands 30 per cent viewership in the Indian broadcast space and as consumer preferences are moving towards segmented regional content, its share is only going to grow."
He further adds, "The merger allows us to create a single brand that can leverage the individual strengths of the regional channels and harness synergies in terms of content strategy and business processes, helping us amplify long-term value for Viacom18. I am pleased that the process has been completed as we gear up to celebrate our 10th anniversary in 2017 with a bigger and unified Team Viacom18."
With the merger, the regional brands, as well as the Prism TV workforce will become part of Viacom18 and be assimilated seamlessly into its cultural ethos.
Viacom18 had recently launched Colors Super, its second Kannada GEC, further strengthening its share in the Kannada market which it already dominates with Colors Kannada. With this merger, the network seems poised to significantly scale up its regional play.