Jio Cinema's OTT merger with Viacom18 Media approved by CCI

Jio Cinema’s OTT merger with Viacom18 Media approved by CCI

Jio Cinema's OTT merger with Viacom18: The merger of Jio Cinema OTT and Viacom18 Media received approval from fair-trade regulator Competition Commission of India (CCI).

Jio Cinema’s OTT merger with Viacom18: The merger of Jio Cinema OTT and Viacom18 Media received approval from fair-trade regulator Competition Commission of India (CCI). The CCI announced in a tweet on Monday that, following investments from BTS Investment and Reliance Projects & Property Management Services, it has approved the merger of the Jio Cinema OTT platform with Viacom18 Media.

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Jio Cinema’s OTT merger with Viacom18: Key Points

Reliance Industries Ltd. (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems in April.
Bodhi Tree to invest Rs 13,500 crore in Viacom18, and Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, creating one of the largest TV and digital streaming firms in India.
Reliance’s well-liked Jio Cinema OTT app will be moved to Viacom18 as part of the cooperation.
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.
Deals beyond a specific threshold need regulator permission, which maintains an eye on unethical commercial activities in the marketplace.