01:02 PM EST, 03/06/2024 (MT Newswires) -- Paramount Global ( PARAA ) is in advanced discussions to sell its minority interest in Viacom18 Media in India to Reliance Industries, Bloomberg reported Wednesday, citing people familiar with the matter.

A deal remains uncertain, according to the report.

Paramount declined to comment, the report said, while representatives for Viacom18 and Reliance didn't immediately respond to Bloomberg's requests for comment.

Neither Paramount nor Reliance immediately replied to requests for comment from MT Newswires, while Viacom18 could not be reached for comment.

Paramount shares were advancing 3.4% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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