Categories: Miscellaneous

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). 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.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

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.

What is Bodhi Tree Systems?

Bodhi Tree Systems is a joint venture between Uday Shankar, the former chairman of Star and Disney India, and James Murdoch’s Lupa Systems.

Important Takeaways for All Competitive Exams:

  • Reliance CEO: Anand Jain
  • Reliance Chairman: Mukesh Ambani
  • Jio CEO: Atul Kabsal
  • Jio Chairman: Akash Ambani

Find More Miscellaneous News Here

Madhavi Gaur

Recent Posts

Which District of Uttar Pradesh is known as the Katehar Region?

In Uttar Pradesh, certain areas are recognized by specific regional names that highlight their historical,…

11 hours ago

Which District of Haryana is Known as Brass City?

Haryana is a state in northern India known for its rich history and industrial growth.…

13 hours ago

Govt Should Include Coking Coal in Critical Minerals List: NITI Aayog

The NITI Aayog has recommended adding coking coal to India's critical minerals list, emphasizing its…

13 hours ago

UK and India to Relaunch FTA Talks in Early 2025: Strengthening Bilateral Ties

UK Prime Minister Keir Starmer announced the resumption of Free Trade Agreement (FTA) negotiations with…

14 hours ago

COP29 Tourism Sector Gains Global Support for Climate Action

COP29 marked a significant milestone in global efforts to address climate change within the tourism…

14 hours ago

Bali Celebrates Hindu Festival of Gratitude

Bali is home to a rich cultural heritage that blends Hindu philosophy, local animist traditions,…

14 hours ago