MAM
Viacom to acquire 75.8 per cent of German music channel Viva Media
MUMBAI: Global media giant Viacom that owns MTV has agreed to acquire a majority stake in Viva Media, its only German music television rival.
The estimated $373 million deal will be Viacom’s largest outside the United States.
Making the announcements in Frankfurt, Viacom co-president and co-chief operating officer Tom Freston said: “The acquisition of Viva is a significant strategic initiative that would dramatically expand our position in Germany — the biggest multi-channel TV ad market internationally and a key driver of MTV’s European growth plans. In bringing together MTV and Viva as one family, our local management will create a more diverse and exciting programme offer for German TV audiences, while also tapping into the unique advantages of being part of our global network.”
A group of 14 shareholders including Vivendi Universal and Time Warner have reportedly agreed to sell a 75.8 percent stake in Viva for E12.65 a share.
It is expected that MTV Networks Central Europe’s managing director Catherine Muhlemann and Viva chief executive officer Dieter Gorny will be responsible for running the combined companies. Both will report to MTV Networks Europe’s president and chief executive officer Brent Hansen.
Detailed plans for the combined businesses’ management and structure will be developed by an integration committee that will include representatives from MTV and Viva, says a press release.
The Viva acquisition comes a month after MTV head Tom Freston was named co-president of Viacom with Leslie Moonves after the departure of Mel Karmazin. MTV operates music channels in countries including France, India and Poland. Viva operates two music TV channels in Germany and owns 51 percent of its Viva Plus TV channel, with the rest held by Time Warner, which has agreed to sell the stake to Viacom.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
