By Our Correspondent
NEW DELHI: The Competition Commission of India (CCI) approves the amalgamation of the Jio Cinema OTT platform with Viacom 18 Media Private Limited (Viacom18), following an investment by BTS Investment 1 Pte. Ltd. (BTS1) and Reliance Projects & Property Management Services Limited (RPPMSL).
The Proposed Combination involves the amalgamation of the Jio Cinema OTT platform with Viacom 18, following an investment by BTS1 and RPPMSL.
BTS1 is a company incorporated under the laws of Singapore. It is currently in the process of raising capital from various investors including sovereign funds, multinationals, and global institutional investors.
RPPMSL, a wholly owned subsidiary of Reliance Industries Limited, is engaged in the provision of IT support services, business and infrastructure support services, manpower support services and erection and commissioning of telecom facilities. RPPMSL is also presently engaged in the business of owning and operating the Jio Cinema OTT platform.
RSL is presently not engaged in any business activities.Viacom 18 is engaged in providing the following services in the media and entertainment sector in India: (a) broadcasting of channels across genres, (b) OTT video streaming through Voot and Voot Kids, (c) production and distribution of feature films, (d) production and licensing of digital content, and (e) other allied businesses.Detailed order of the CCI will follow.
