Sony-Viacom18 merger falls as Reliance seeks majority stake with Jio in mind
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Merger talks between entertainment giant Sony Picture Network and Viacom18 have fallen apart as Mukesh Ambani-led Reliance Industries wants to keep a majority stake in the combined entity as well. The combined entity would have also owned close to 60 TV channels and two video streaming services. Reliance Industries also owns a majority stake in Viacom18, which is a joint venture between Network19 and ViacomCBs, through Network18.