Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, would invest 43.06 billion rupees ($527.84 million) in Reliance’s (RELI.NS) broadcast venture Viacom18, down 70% from its original plan.
Last April, Mukesh Ambani’s Reliance Industries said that Qatar Investment Authority-backed Bodhi Tree would invest 135 billion rupees of 151.45 billion rupees in Paramount Global (PARA.O), -a backed media company.
Reliance invested Rs108.39 billion.
According to a source, financial pressure and dealmaking slowed investment.
In the first quarter of 2023, rising interest rates, inflation, and recession fears reduced global M&A activity to its lowest level in over a decade.
Reliance purchased digital streaming rights for the 2023–2027 Indian Premier League T20 cricket event last year.
JioCinema streams all matches for free. So, for example, last year’s Qatar FIFA World Cup was streamed free.
