New Delhi [India]: The Competition Commission of India (CCI) has approved the amalgamation of the over-the-top platforms Jio Cinema with Viacom 18 Media.
This nod by the national competition regulator follows an investment by BTS Investment 1 Pte. Ltd. (BTS1) and Reliance Projects and Property Management Services Limited (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, 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.
Viacom 18 is engaged in providing 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.