Viacom18 Completes Its Partnership Deal With Reliance, Bodhi Tree Systems And Paramount Global

Viacom 18, a media firm with its headquarters in Mumbai, stated on Thursday that it had dissolved its strategic alliance with Reliance Storage Limited, Bodhi Tree Systems, and Paramount Global (formerly known as ViacomCBS). Media tycoon James Murdoch and former Star & Disney India president Uday Shankar support Bodhi Tree Systems.

The merger plan between Reliance Storage Ltd. and Viacom 18 has become effective as a result of NCLT Mumbai's approval, and Viacom18 has awarded shares to Bodhi Tree Systems and RIL Group businesses as compensation for the merger plan, according to a statement. After the acquisition is finalized, TV18, which is owned by Mukesh Ambani, would hold a 50.994% equity stake in the business, while Bodhi Tree will hold a 0.011% stake. 48.994% will be held by Paramount Global.

The integration of JioCinema into Viacom18 will be complete following this merger, and Viacom18 will have access to Rs 15,145 crore in cash for its anticipated growth. This amount is made up of Rs 10,839 crore from RIL Group entities and Rs 4,306 crore from Bodhi Tree Systems, according to the statement. According to Viacom18, Paramount Global will continue to be a shareholder and provide the company with its high-end international content.

With Uday Shankar and James Murdoch offering strategic and operational direction to Viacom 18 and leveraging their track record of creating iconic media enterprises, the alliance will allow Viacom 18 to innovate and disrupt the M&E sector. The Board of Viacom18 has accepted the appointment of Uday Shankar. According to the statement, Paramount Global will keep providing Viacom18 with its high-end international content as a stakeholder.

Bodhi Tree will now hold 13% of Viacom18 on a diluted basis, changing the shareholding of that company as well. While on a diluted basis, RIL Group and Paramount will hold 60.4 percent and 13 percent of Viacom18, respectively. Viacom18 will be allowed to innovate and upend the M&E industry thanks to the agreement. The business also disclosed Uday Shankar's appointment to the Viacom18 Board of Directors. While continuing to be a stakeholder and continue to provide quality global programming to Viacom18.

According to a press release, this special alliance brings together the largest conglomerate in India, two of the most well-known media industry veterans, and a top global media and entertainment firm. The sovereign wealth fund of the State of Qatar, the Qatar Investment Authority (QIA), has invested in Bodhi Tree Systems.