CCI approves Viacom18 Media and Jio Cinema OTT merger

20 Sep 2022 , 08:15 AM

Regulator Competition Commission of India (CCI) on Monday permitted the proposed merger of Jio Cinema OTT with Viacom18 Media.

Following an investment by BTS Investment and Reliance Projects & Property Management Services, the CCI announced in a tweet on Monday that it had approved the merger of the Jio Cinema OTT platform with Viacom18 Media.

Reliance Industries Ltd. (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems in April. As part of the tripartite partnership, Bodhi Tree will invest Rs13,500 crore in Viacom18, and Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs1,645 crore in the broadcaster, creating one of India’s biggest TV and digital streaming companies.

Reliance’s well-liked Jio Cinema OTT app will be moved to Viacom18 as part of the cooperation.

The joint venture between Uday Shankar, the former chairman of Star and Disney India, and James Murdoch’s Lupa Systems is known as Bodhi Tree Systems (BTS).

IT support services are provided by Reliance Projects & Property Management Services. Through its roster of channels and streaming service “Voot,” Viacom18 Media engages in the business of offering media and entertainment services.

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