cci: CCI approves merger of Jio Cinema OTT with Viacom18 Media

Honest-trade regulator Competitors Fee of India (CCI) on Monday accredited the proposed merger of Jio Cinema OTT with Viacom18 Media. In a tweet on Monday the CCI stated it has accredited amalgamation of the Jio Cinema OTT platform with Viacom18 Media, following an funding by BTS Funding and Reliance Initiatives & Property Administration Companies.

In April, Reliance Industries Ltd (RIL) and Viacom18 introduced a strategic partnership with Bodhi Tree Techniques, the place Bodhi Tree will make investments Rs 13,500 crore in Viacom18 whereas Reliance Initiatives & Property Administration Companies, a wholly-owned subsidiary of RIL, will make investments Rs 1,645 crore within the broadcaster as a part of the tripartite partnership, to kind one of many largest TV and digital streaming companies in India.

Beneath the partnership, Reliance’s in style Jio Cinema OTT app can be transferred to Viacom18.

Bodhi Tree Techniques (BTS) is an funding enterprise agency of James Murdoch’s Lupa Techniques and ex-chairman of Star and Disney India Uday Shankar.

Reliance Initiatives & Property Administration Companies is engaged in IT assist companies. Viacom18 Media is engaged in offering media and leisure companies by way of its portfolio of channels and streaming app ‘Voot’.

Offers past a sure threshold require approval from the regulator, which retains a tab on unfair enterprise practices within the market.