×

Viacom Explores Sale of Majority Stake in Its China Channels

Viacom is exploring the sale of its majority stake in its TV channels in China, according to media reports Monday.

The media giant has held talks with at least one entity in China over the sale of stakes in channels such as MTV and Nickelodeon, the Wall Street Journal said. The newspaper, which was the first to report the move, did not name the potential buyer.

News of the talks comes as the U.S. and China become increasingly entrenched in the trade war that has soured relations between the nations over the past several months. Although a reduction in Viacom’s stakes would remove its control over its channels in China, bringing on a Chinese majority owner could help with navigating the country’s tricky political and regulatory environment.

Viacom sources told Variety that the company, under CEO Bob Bakish, remains committed to the Chinese market, whose mammoth size makes it impossible to ignore. Also, partnering up with a local enterprise is a model that Viacom has pursued elsewhere in Asia, including the region’s other billion-plus-population country, India. There, Viacom sold a stake in its joint venture, Viacom18, to its partner, TV18, last year, allowing TV18 to assume majority control.

Reports said that the talks in China center only on Viacom’s television operations and do not involve Paramount Pictures, whose “Transformers” spinoff, “Bumblebee,” is currently top of the box office in the Middle Kingdom.

Popular on Variety

More TV

  • T.J. Dillashaw, right, kicks Cody Garbrandt

    Disney Plans UFC Broadcast for FX

    UFC matches will return to FX  – but not on a permanent basis. ESPN has been showing preliminary bouts to UFC pay-per-view events for the last while on ESPN and ESPN2, and then showing the main card on its ESPN+ subscription video service. In September, the early lineup will air on FX, which the UFC [...]

  • George RR Martin

    George R.R. Martin Says HBO's 'Game of Thrones' Ending Won't Influence Future Novels

    Geroge R.R. Martin is sticking to his original plan when it comes to the future of “Game of Thrones.” In an interview with The Observer, Martin claimed that HBO’s controversial ending for the series would have no affect on the endings of the last two novels. “No, it doesn’t. It doesn’t change anything at all,” [...]

  • Listen: 'Pennyworth' Producer Talks Delving into

    Listen: 'Pennyworth' Executive Producer Talks Delving into Alfred's Backstory

    Bruno Heller may have served as an executive producer on the Batman-inspired series “Gotham” for the past five years, but it’s actually real-life people (not superheroes) that intrigue the producer the most. It’s for that exact reason that Heller’s newest series finds him exploring the origin stories of Batman’s butler Alfred in the Epix drama [...]

  • "Trust Issues" - Dylan and Lizzie

    'Instinct' Canceled After Two Seasons

    CBS has canceled “Instinct” after two seasons. Series creator Michael Rauch announced the cancellation Friday on Twitter, writing, “I’m very sad to relay the news that @instinctcbs won’t be renewed for a 3rd season. We will double up this Sunday and our season/series finale will be Aug 25.” Rauch also thanked series stars Alan Cumming [...]

  • Maisel Day

    My Mostly OK Maisel Day (Column)

    When Amazon announced its first-ever Maisel Day, I was intrigued. For one day, Aug. 15, “The Marvelous Mrs. Maisel” fans and Angelenos (fangelenos?) could hit up various restaurants, theaters and retailers throughout Los Angeles for special deals, all at 1959 prices. Among the gems: $2.50 makeovers, $0.99 pastrami sandwiches and $0.30 for a gallon of [...]

  • Nordisk Film & TV Fond Announces

    Nordisk Film & TV Fond Backs Joachim Trier, Ole Bornedal, Yellow Bird

    Nordisk Film & TV Fond has announced three features, two series and a documentary set to receive $1.4m in financing, as well as distribution, dubbing and cultural initiative support recipients. Doing so, it highlights some of the key titles moving forward in the Nordic region. Already backed by the Danish Film Institute’s largest ever grant [...]

  • TV News Roundup: 'Silicon Valley' Final

    TV News Roundup: 'Silicon Valley's' Final Season Sets October Premiere Date

    In today’s roundup, “Silicon Valley” returns to HBO on Oct. 27 and Quibi greenlights a new cooking competition show “Dismantled.” DATES The fifth season of Netflix‘s “Peaky Blinders” will premiere on the streamer Oct. 4. The newest season will continue to follow one gangster family in the lawless streets of Birmingham, UK during the midst [...]

More From Our Brands

Access exclusive content