CCI Approves Jio Cinema OTT, Viacom18 Media Merger

The proposed merger of Jio Cinema OTT and Viacom18 Media has been approved by the Competition Commission of India (CCI).

The Jio Cinema OTT platform and Viacom18 Media merger have been approved, the CCI has stated in a tweet on Monday. BTS Investment and Reliance Projects & Property Management Services have invested in this deal.

Reliance Industries and Viacom18 declared a strategic partnership with Bodhi Tree Systems in April. As part of the tripartite partnership, Bodhi Tree will invest Rs 13,500 crore in Viacom18, and Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster, creating one of India's biggest TV and digital streaming companies.

Reliance's well-liked Jio Cinema OTT app will be moved to Viacom18 as part of the cooperation.

Bodhi Tree Systems (BTS), is a joint venture between Uday Shankar, the former chairman of Star and Disney India, and James Murdoch's Lupa Systems. IT support services are provided by Reliance Projects & Property Management Services. Through its roster of channels and streaming service "Voot," Viacom18 Media engages in the business of offering media and entertainment services.

Deals beyond a specific threshold need regulator permission, which maintains an eye on unethical commercial activities in the marketplace.