James Murdoch’s Bodhi Tree To Invest $1.8 Billion In Billionaire Mukesh Ambani-Backed Viacom18

James Murdoch’s Bodhi Tree To Invest $1.8 Billion In Billionaire Mukesh Ambani-Backed Viacom18

James Murdoch, former CEO of Twenty-First Century Fox, speaks to a group of students in Florence, ... [+] Italy. Bodhi Tree Systems—backed by James Murdoch, the youngest son of media tycoon Rupert Murdoch—is investing 135 billion rupees ($1. 8 billion) into billionaire Mukesh Ambani's Viacom18 to create one of the largest TV and digital streaming companies in India. Ambani's Reliance Industries will separately inject 16. 5 billion rupees cash into Viacom18, a joint venture between Reliance and U. S. media giant Viacom Inc. India's biggest company by market cap will also transfer its over-the-top, or OTT, platform JioCinema to Viacom18 as part of the transaction, which is expected to be completed within six months. "We are very excited to partner with Bodhi Tree and lead India's transition to a streaming-first media market," Ambani said in a statement. "We are committed to bringing the best media and entertainment services for Indian customers though this partnership." "Our ambition is to leverage technology advances, particularly in mobile to provide meaningful media solutions to meet everyday media and entertainment needs at scale," Murdoch and Shankar said. "We seek to reshape the entertainment experience across (India's) more than 1 billion screens." Ambani, who made his