NBCU and Sky owner Comcast has invested in James Murdoch’s Bodhi Tree Systems, which in turn is becoming a key player in a new-look Viacom18. Comcast-owned company NBCUniversal Media has paid…
Media has paid an undisclosed amount for a shareholding in Bodhi Tree, which former Fox CEO Murdoch launched with ex-Star and Disney India Chairman Uday Shankar launched last year. The Competition Commission of India approved the investment on Wednesday.
However, Bodhi Tree is taking a far more important role than that suggests. Firstly, it will take a 17.8% share of convertible preference shares and Shankar has taken a seat on the Viacom18 board. Reliance owns the other convertible shares. Last year, Bodhi Tree committed to raising 13,500 crore for investment in Viacom18, which at the time was majority owned by Indian manufacturing and media giant Reliance.
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