James Murdoch's Bodhi Tree Slashes Planned Investment In Reliance

Bodhi Tree, a partnership between James Murdoch and a former executive of Star India, reportedly decreased its intended investment in Reliance's broadcast operation by 70% and would now put in Rs 4,306 crore ($527.84 million), according to a report from Viacom18 published late on Thursday.

Reliance Industries, owned by billionaire Mukesh Ambani, announced in April of last year that Bodhi Tree, backed by the Qatar Investment Authority and Paramount Global PARA.O, will invest Rs 13,500 crore out of a total Rs 15,145 crore. With a contribution of Rs 10,839 crore, Reliance is now driving the investment.

According to a person with knowledge of the situation, the investment amount was decreased because of a wider liquidity crunch and a halt in dealmaking. The first quarter of 2023 saw the lowest level of global merger and acquisition (M&A) activity in more than a decade as businesses' desire for deal-making was dampened by increasing interest rates, high inflation, and worries of a recession.

Reliance made a significant impression in the Indian streaming market last year when it purchased the digital streaming rights for the Indian Premier League T20 cricket event from 2023 to 2027. Reliance is expanding in every industry, from retail to e-commerce.
Currently, JioCinema, which is owned by Viacom18, offers viewers free access to all matches. Additionally, there was free streaming of the 2014 FIFA World Cup in Qatar.