Reliance and Viacom18 have announced a strategic partnership with Bodhi Tree Systems to form one of the largest TV and digital streaming companies in India,
Bodhi Tree Systems has invested ₹13,500 crore in Viacom 18, a subsidiary of TV18 Broadcast Limited, and Reliance Projects & Property Management Services Limited, a wholly owned subsidiary of Reliance Industries Limited.
Reliance Projects and Property Management Services, a wholly-owned subsidiary of reliance Industries will invest Rs 1,645 crore.
Cyril Amarchand Mangaldas advised Viacom 18 and Reliance Projects on the deal.
The General Corporate Practice team was led by led by L. Viswanathan (Partner), Nivedita Rao (Partner, Deputy Head - Corporate), Aditi Singhvi, (Partner), Anand Jayachandran (Partner), with support from Alexander Kynjing (Consultant), Supriya Aakulu (Senior Associate), Akshat Parmar (Senior Associate), Amanee Kadakia (Associate); and Dhwani Shah (Associate).
The Intellectual Property and regulatory advisory team was led by Arun Prabhu (Partner, Head - TMT), Anirban Mohapatra (Partner); along with Molshree Shrivastava (Senior Consultant) and Arpita Sengupta (Senior Associate).
The Competition Law advisory team was led by Avaantika Kakkar (Partner, Head - Competition); Kirthi Srinivas (Partner) along with Rajat Sharma (Associate), Swaha Sinha (Associate) and Shivani Sathe (Associate).
JSA advised Paramount Global (formerly known as ViacomCBS). The team was led by Partner Lalit Kumar along with Partner Bharati Joshi and Principal Associate Amandeep Singh Virk and Associate Zarish Ali.
The transaction also contemplates the transfer of the “Jio Cinema” OTT app to Viacom 18.