Brands
Viacom acquires stake in Viva Media; launches public tender offering
MUMBAI: Viacom has completed its acquisition of 75.83 per cent of Viva Media AG from 14 shareholders today. Aditionally, the global media giant is also launching a public tender offer on 24 August 2004.
Vicaom Holdings Germany LLC’s public tender offer to Vivas Media AG shareholders to acquire all outstanding shares (as announced on 23 August 2004) is now unconditional with all conditions precedent having been fulfilled or deemed to be fulfilled, informs a Viacom communique.
The required regulatory approval was secured from the Federal German cartel office (Bundeskartellamt) earlier.
The German Commission on concentration in the media (Kommission zur Ermittlung der Konzentration im Medienbereich, KEK) has agreed to acquire a majority stake in Viva Media, its only German music television rival.
Vicaom ACOM also closed a separate agreement pursuant to which Viacom acquired the Time Warner-participation in Viva Plus, a joint venture of VIVA Fernsehen GmbH (51 per cent) and Time Warner (49 per cent), adds the release.
Viacom a leading global media company, with pre-eminent positions in broadcast and cable television, radio, outdoor advertising and online has a well-known brands include CBS, MTV, Nickelodeon, VH1, BET, Paramount Pictures, Infinity, Viacom Outdoor, UPN, Spike, Country Music Television, Comedy Central, Showtime, Blockbuster and Simon & Schuster.
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.
