The Competition Commission of India (CCI) has approved the amalgamation of JioCinema 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).
“Commission approves amalgamation of the Jio Cinema OTT platform with Viacom 18 Media, following an investment by BTS Investment and Reliance Projects & Property Management Services,” the CCI tweeted.
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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. It also owns and operates the Jio Cinema OTT platform.
Viacom 18 is engaged in broadcasting of channels across genres, OTT video streaming through Voot and Voot Kids, production and distribution of feature films, production and licensing of digital content, and other allied businesses.