April 29

James Murdoch’s Bodhi Tree Invests $1.78 Billion in Ambani-Backed Viacom18 in India

By Manish Singh

The Indian conglomerate Reliance and Viacom18 have inked a strategic partnership with Bodhi Tree, an “investment platform” run by James Murdoch’s Lupa Systems and former Disney executive Uday Shankar, in a push to turn the Ambani-backed network, which operates over three dozen television channels in nine languages and streaming services, into “one of the largest TV and digital streaming companies” in the world’s second-largest internet market.

Bodhi Tree is investing $1.78 billion in Viacom18, which also counts Paramount Global among its backers, as part of the partnership, the companies said Wednesday.

The collaboration will also see JioCinema, an on-demand video streaming service owned by Reliance, transferred to Viacom18, the firms said. Reliance Projects and Property Management Services, a wholly owned subsidiary of Reliance Industries, is additionally investing $216 million in Viacom18, it said.

Photo courtesy of blickpixel.

Source: TechCrunch (link opens in a new window)

Investing, Technology
impact investing, partnerships