Commission of India (CCI) has approved the proposed merger of Jio Cinema OTT with TV18 Broadcast’s subsidiary -- Viacom18 Media. In April, Reliance Industries (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India. Under the partnership, Reliance's popular Jio Cinema OTT app will be transferred to Viacom18.
TV18 Broadcast formerly IBN18 Broadcast owns and operates one of India's leading 24-hour English language news and current affairs channel, CNN IBN.
