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ViacomCBS buys 49% stake in Miramax from BeIN for USD 375 mln

Monday 23 December 2019 | 13:32 CET | News
ViacomCBS said it has bought a 49 percent stake in TV studio Miramax from the BeIN Media Group for USD 375 million. The deal is expected to complete in the first quarter, subject to the usual closing conditions. The total includes an upfront cash payment of USD 150 million, along with a commitment to invest USD 45 million per year over the next five years, to be used for new film and TV productions as well as for working. ViacomCBS said the deal will combine both libraries of content and create synergies and other new production co-financing opportunities in film and TV.

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Categories: Broadcast & Satellite / Internet
Companies: BeIN Media Group / Paramount
Countries: World
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