New Delhi, Sep 22 (Agency) Fair market watchdog Competition Commission of India (CCI) on Thursday said it has approved the merger of Jio Cinema OTT platform with Viacom 18. Viacom 18 is engaged in providing various media and entertainment services such as 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.
The CCI in a statement said that the proposed combination involves the amalgamation of the Jio Cinema OTT platform with Viacom 18, following an investment by BTS Investment 1 Pte. Ltd. (BTS1) and Reliance Projects & Property Management Services Limited (RPPMSL). As per the statement, BTS1 is a company incorporated under the laws of Singapore and 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 (RIL), 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.