Bodhi Tree Systems, the content platform of the media baron James Murdoch and the former Disney Chief India Uday Shankar, concluded a “strategic partnership” with Reliance Industries LTD (RIL) and Viacom 18, and will invest RS 13500 Broader in the latter, a joint press release indicated on April 27.
The partnership aims to build the main entertainment platform in India and pioneer the transformation of the Indian media landscape into a “streaming approach first,” they said.
Viacom18 has and operates the suite of television channels on colors and the OTT, Voot platform.
“Bodhi Tree Systems leads fundraising with an investor consortium to invest RS 13,500 crores in Viacom18”, noted the joint declaration.
An investment of RS 1 645 Core would also be made by Reliance Projects and Property Management Services Limited, a subsidiary in exclusive property in RIL, he said.
“In addition, the popular Jiocinema Ott application will be transferred to Viacom18,” he added.
The agreement should be concluded within six months and is subject to closing conditions and necessary approvals.
A global paramount, the multimedia entity which includes main platforms such as CBS, showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, Bet, Paramount + and Pluto TV will continue as an interign of Viacom18 and will continue to Provide viaom18 its global premium global content, he also said.
Ril and MD Mukesh Ambani president, while commenting on the decision to join Bodhi Tree, said the history of Murdoch and Shankar in the digital media industry were “unrivaled”. Over the past two decades, they have “played an undeniable role in training the media ecosystem in India, Asia and the world,” he added.
“We are very happy to associate with Bodhi Tree and to direct the transition from India to a streaming media market. We are committed to providing the best media and entertainment services for Indian customers thanks to this partnership” , said Ambani.
Murdoch and Shankar, in a joint declaration, said that their ambition through the new partnership is to “take advantage of technological advances, in particular in mobile” and “provide significant solutions to respond to the media and the needs of Large -scale daily entertainment “.
“We are trying to reshape the entertainment experience on more than a billion screens,” they added.
