Reliance and Viacom18 form strategic partnership with Bodhi Tree Systems

1 May 2022 , 01:33 AM

Reliance and Viacom18 today announced a strategic partnership with Bodhi Tree Systems which is a platform of James Murdochs Lupa Systems and Uday Shankar to form one of the largest TV and digital streaming companies in India Bodhi Tree Systems is leading a fund raise with a consortium of investors to invest Rs 13500 crore in Viacom18 to jointly build Indias leading entertainment platform and pioneer the Indian media landscapes transformation to a streaming-first approach Viacom18 owns and operates the suite of Colors TV channels and OTT platform VOOT Reliance Projects Property Management Services Limited a wholly-owned subsidiary of Reliance Industries which has significant presence in television OTT distribution content creation and production services will invest Rs 1645 crore In addition thepopular JioCinema OTT app will be transferred to Viacom18 Paramount Global formerly known as ViacomCBS a leading global media and entertainment company comprised of iconic content studios TV networks and streaming services including CBS Showtime Networks Paramount Pictures Nickelodeon MTV Comedy Central BET Paramount and Pluto TV will continue as a shareholder of Viacom18 and will continue to supply Viacom18 its premium global content Upon closing Viacom18 in close cooperation with Reliance Bodhi Tree Systems and Paramount Global will shape a vision strategy and execution for its businesses building on the strong existing foundation Viacom18 is amongst the leading players in the core linear television business with 38 channels across nine languages and a pan India presence The transaction is expected to close within six months and is subject to closing conditions and requisite approvals