The Competition Commission of India (CCI) gives a positive nod to the merger of the streaming service of Jio Cinema with Viacom18 Media Pvt Ltd.
The merger comes after BTS Investment 1 Pte Ltd and Reliance Projects and Property Management Services Ltd announced investment in Viacom18. James Murdoch and Uday Shankar’s Bodhi Tree invested $1.78 billion in Viacom18, earlier this year. Viacom18 already operates and owns a range of channels including Colors TV and the OTT platform Voot.
Reliance Projects & Property Management Services Ltd, a wholly-owned subsidiary of Reliance Industries Ltd, has its presence across OTT, distribution, content creation, and production services. It announced that it would invest Rs 1,645 crore. RPPMSL, provides information technology support services, business, and infrastructure support services, and constructs telecom facilities.
Voot competes with OTT other platforms like Disney+Hotstar, Zee5, SonyLIV, Amazon Prime Video, and Netflix in the Indian market.