In April, Reliance Industries Ltd. (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systemswhere bodhi tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly owned subsidiary of RILwill invest Rs 1,645 crore in the broadcaster as part of the three-way partnership, to form one of the largest television and digital streaming companies in India.
As part of the partnership, Reliance’s popular Jio Cinema OTT app will be transferred to Viacom18.
Bodhi Tree Systems (BTS) is an investment company of James Murdoch’s Lupa Systems and former Star and Disney India Chairman Uday Shankar.
Reliance Projects & Property Management Services is engaged in IT support services. Viacom18 Media is engaged in the provision of multimedia and entertainment services through its portfolio of channels and streaming application “Voot”.
Transactions above a certain threshold require approval from the regulator, which keeps an eye on unfair trading practices in the market.