Viacom approves 18 Media and Jio Cinema OTT merger

New Delhi, Sep 22 (UNI) The Competition Commission of India (CCI) has placed orders on BTS Investments-1 Pte Ltd (BTS-1) and Reliance Project and Property Management Services Limited (RPPM). SL has approved the merger of Jio Cinemas. OTT platform with Viacom18 Media Pvt Ltd (Viacom18). As per the agreement approved by CCI, the proposed combination includes integration of Jio Cinema OTT platform with Viacom 18 followed by investments by BTS-1 and RPPMSL. BTS-1 is a company incorporated under the laws of Singapore. It is currently in the process of raising capital from various investors including Sovereign Wealth Funds, MNCs and global institutional investors. RPPMSL is a wholly owned company of Reliance Industries Limited, engaged in manufacturing and commissioning of IT support services, business and infrastructure support services, manpower support services and telecommunication facilities. RPPMSL is also currently engaged in the business of owning and operating the Jio Cinema OTT platform.