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Friday, March 1, 2024
Udaipur Standard Hindi

Viacom18 enters into strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global

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<p data-recalc-dims=Viacom18 said that Paramount Global will continue as a shareholder and will supply its premium global content to Viacom18.

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Viacom18 said that Paramount Global will continue as a shareholder and will supply its premium global content to Viacom18.
Viacom 18 announced to be completed on Thursday strategic partnership Together Reliance Storage Limited, Bodhi Tree Systems And Paramount Global (formerly known as ViacomCBS). Bodhi Tree Systems Backed by media tycoon James Murdoch and former Star & Disney India head Uday Shankar.

With the completion of the deal, TV18 (owned by Mukesh Ambani) will hold 50.994% equity stake, while Bodhi Tree will hold 0.011% in the company. Paramount Global would be 48.994%.

RIL Group entities will be at 60.37%; TV18 – 13.54%; Bodhi tree -13.08%; Paramount Global – 13.01% on a fully diluted basis, the release said.

“Upon completion of this merger, the integration of JioCinema Viacom 18 Has been completed. Viacom18 has Rs 15,145 crore in cash for its planned growth, which includes Rs. 10,839 crore contributed RIL Rs 4,306 crore was contributed by group entities and Bodhi Tree Systems,” Viacom18 said in a statement.

Viacom18 said that Paramount Global will continue as a shareholder and will supply its premium global content to Viacom18.

“The partnership will enable Viacom18 to innovate and disrupt the M&E sector Uday Shankar and James Murdoch will provide strategic and operational guidance to Viacom18, leveraging their track-record of building iconic media businesses. Uday Shankar has been appointed to the board of directors. Viacom18. Paramount Global will continue as a shareholder and will supply its premium global content to Viacom18.

It further said in a release, “This unique partnership brings together India’s largest conglomerate, two of the most renowned media industry giants and a leading global media and entertainment company.”

The Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, is an investor in Bodhi Tree Systems.

  • Published on April 14, 2023 at 03:04 AM IST

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