Bollywood

James Murdoch, Uday Shankar’s Bodhi Tree Systems to invest Rs 13,500 crore in Viacom18

Mumbai: Reliance and Viacom18 have introduced a strategic partnership with Bodhi Tree Methods, which is a platform of James Murdoch’s Lupa Methods and Uday Shankar, to type one of many largest TV and digital streaming firms in India. Bodhi Tree Methods is main a fund increase with a consortium of traders to take a position Rs 13,500 crore in Viacom18, to collectively construct India’s main leisure platform and pioneer the Indian media panorama’s transformation to a “streaming-first” method. 

Viacom18 owns and operates the suite of Colours TV channels and OTT platform Voot.

Reliance Initiatives and Property Administration Providers Ltd, a wholly-owned subsidiary of Reliance Industries which has important presence in tv, OTT, distribution, content material creation, and manufacturing companies, will make investments Rs 1,645 crore. As well as, the favored JioCinema OTT app will probably be transferred to Viacom18.

Paramount World (previously often called ViacomCBS), a number one world media and leisure firm comprised of iconic content material studios, TV networks and streaming companies together with CBS, Showtime Networks, Paramount Footage, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV will proceed as a shareholder of Viacom18 and can proceed to provide Viacom18 its premium world content material.

Bodhi Tree Methods, a newly shaped platform between Lupa Methods founder and CEO James Murdoch and Uday Shankar, the previous president of The Walt Disney Firm Asia Pacific and former Chairman of Star and Disney India, will leverage the companions’ shared observe report of constructing iconic companies and shaping the media panorama in India and globally. Qatar Funding Authority (QIA), the sovereign wealth fund of the State of Qatar, is an investor in Bodhi Tree Methods.

“James and Uday’s observe report is unmatched,” stated Reliance Industries Ltd chairman and managing director Mukesh D Ambani. “For over 20 years, they’ve performed an simple position in shaping the media ecosystem in India, Asia, and world wide. We’re very excited to companion with Bodhi Tree and lead India’s transition to a streaming-first media market. We’re dedicated to bringing one of the best media and leisure companies for Indian clients by way of this partnership.”

“We couldn’t be extra happy to announce our new partnership,” Murdoch and Shankar stated in a joint assertion. “Our ambition is to leverage know-how advances, significantly in cell, to offer significant options to satisfy on a regular basis media and leisure wants at scale. We search to reshape the leisure expertise throughout a couple of billion screens.”

Upon closing, Viacom18, in shut cooperation with Reliance, Bodhi Tree Methods and Paramount World, will form a imaginative and prescient, technique, and execution for its companies, constructing on the sturdy present basis. Viacom18 is amongst the main gamers within the core linear tv enterprise with 38 channels throughout 9 languages and a pan India presence.

The transaction is anticipated to shut inside six months and is topic to closing situations and requisite approvals.

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