Jio News: The Competitors Fee of India (CCI, CCI) has permitted the proposed merger of Jio Cinema OTT with Viacom18 Media.
CCI in a tweet on Monday wrote that it has permitted the merger of Jio Cinema OTT platform with Viacom18 Media following funding by BTS Investments and Reliance Tasks & Property Administration Companies.
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Reliance Industries Restricted (RIL) and Viacom18 introduced a strategic partnership with Bodhi Tree Programs in April. As a part of the tripartite settlement, Bodhi Tree will make investments Rs 13,500 crore in Viacom18, RIL’s subsidiary Reliance Tasks and Property Administration Companies to take a position Rs 1,645 crore. Below this settlement, Reliance’s in style Jio Cinema OTT app will likely be merged with Viacom18.
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