Reliance and Viacom18 have partnered with Bodhi Tree Systems— a platform run by James Murdoch’s Lupa Systems and Uday Shankar, to float an entity with stakes in TV and streaming, according to a press release by Reliance. Viacom18, a joint venture between Reliance’s Network18 and U.S. media conglomerate Viacom, runs 38 channels including Colors TV and OTT platform VOOT in India. As part of the deal, Bodhi Tree Systems, along with a consortium of investors, will invest Rs.13,500 crores (roughly $1.78 billion) in Viacom18 to help pivot Indian media to a “streaming-first” approach, the release added. Reliance added that it will be investing Rs. 1,645 crores ($216 million) through its subsidiary— Reliance Projects & Property Management Services Limited— in Viacom18. It will also be handing over its on-demand streaming service JioCinema OTT to Viacom18. https://twitter.com/CNBCTV18Live/status/1519525179684429824 ColorsTV is considered to be…
