The Competition Commission of India (CCI), tasked with ensuring fair-trader in the Indian market, has approved the merger of JioCinema OTT and Viacom18 Media. Reliance Industries Limited (RIL) wants to build the largest TV and digital streaming firm in India. To recall, back in April 2022, RIL and Viacom18 announced a strategic partnership with the Bodhi Tree Systems, where Bodhi Tree would invest Rs 13,500 crore in Viacom18 and Reliance Projects & Property Management Services would invest Rs 1,645 crore in the broadcaster.
According to a PTI report, under this partnership, the JioCinema OTT app will be transferred to Viacom18. For the unaware, Bodhi Tree Systems (BTS) is an investment venture firm of Uday Shankar, ex-chairman of Star and Disney India and James Murdoch's Lupa Systems. Reliance Projects & Property Management has engaged in IT support services. The popular OTT content streaming app called Voot is where Viacom18 is engaged in providing media and entertainment services. This is a boost to RIL's media business, as CCI approval will allow the conglomerate to become a bigger OTT player.