Paramount Globalcould be set for change in the tough Indian media market.
Uday Shankar from James Murdochs Bodhi Tree System will also have a shareholding.
The two shares combined would give Reliance 63% of the company.
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Most of the U.S. biggest media players have struggled for growth in India over recent years.
Deadline has reached out to Reliance and Paramount for comment on the Bloomberg report.
