James Murdoch's Bodhi Tree slashes planned investment in Reliance's Viacom18

Viacom18 will receive an investment of 43.06 billion rupees from Bodhi Tree, about 70% less than what was planned by the joint venture between James Murdoch and a former Star India executive.

Last year, Indian billionaire Mukesh Ambani's Reliance had said Qatar Investment Authority-backed Bodhi Tree would spend 135 billion rupees out of a planned 151.45 billion rupees investment in Viacom18, also backed by Paramount GlobalThe investment amount from Bodhi Tree was reduced due to a broader funding squeeze amid a slowdown in dealmaking, a source familiar with the matter said on Friday.

Reliance, which is expanding in every sector from retail to e-commerce, made a big splash in the Indian streaming space last year, with its acquisition of digital streaming rights for the Indian Premier League T20 cricket tournament from 2023 to 2027.

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James Murdoch's Bodhi Tree slashes planned investment in Reliance JV Viacom18Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, has reduced its planned investment in Reliance's broadcast venture Viacom18 by 70% and will now pump in 43.06 billion rupees ($527.84 million), Viacom18 said late on Thursday. Perhaps Reliance pump in it's own funds to hold the strong control in media business.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

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