Jio Cinema OTT platform merger with Viacom 18 approved by CCI
The Competition Commission of India (CCI) on 19 September 2022 has approved the amalgamation of the Jio Cinema OTT (Over the Top) platform with Viacom18 Media, following an investment by BTS Investment and Reliance Projects & Property Management Services.
Over the Top (OTT) refers to a streaming device which delivers media content to consumers through the internet by passing cable, Direct to Home etc. services. For eg Netflix, Amazon Prime Video, Hulu, Disney+ etc.
Under the partnership, Reliance's popular Jio Cinema OTT app will be transferred to Viacom18.
Viacom 18 Media is engaged in providing media and entertainment services through its portfolio of channels and streaming app 'Voot'.
In April, Reliance Industries Ltd (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems to create India’s largest TV and digital streaming company in India.
Bodhi Tree Systems (BTS) is a joint investment venture firm of James Murdoch's Lupa Systems and ex-chairman of Star and Disney India Uday Shankar.
IMPORTANT FACTS -
Competition Commission of India (CCI) :
- The Competition Commission of India (CCI) is the chief national competition regulator in India.
- It was set up under the Competition Act, 2002
- It comes under the Ministry of Corporate Affairs.
- It promotes healthy market competition and prevents activities that have an adverse effect on competition in India.
- CCI also approves merger and acquisitions of companies in India so that the two merging entities do not dominate the market unfairly
Headquarter - New Delhi
Current Chairman - Ashok Kumar Gupta
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