Comcast Invests In James Murdoch’s Bodhi Tree Systems As Viacom18 Merger Completes

Media has paid an undisclosed amount for a shareholding in Bodhi Tree, which former Fox CEO Murdoch launched with ex-Star and Disney India Chairman Uday Shankar launched last year. The Competition Commission of India approved the investment on Wednesday.

However, Bodhi Tree is taking a far more important role than that suggests. Firstly, it will take a 17.8% share of convertible preference shares and Shankar has taken a seat on the Viacom18 board. Reliance owns the other convertible shares. Last year, Bodhi Tree committed to raising 13,500 crore for investment in Viacom18, which at the time was majority owned by Indian manufacturing and media giant Reliance.

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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.
Source: Reuters - 🏆 2. / 97 Read more »