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Bodhi Tree invests $1.76bn in Viacom18 ahead of IPL auction

(Photo by Arturo Holmes/Getty Images for Tribeca Festival)

Bodhi Tree, the media investment vehicle promoted by media executives James Murdoch and Uday Shankar, will invest INR13,500 crore ($1.76bn/€1.68bn) in Indian media group Viacom18 to create a sports and entertainment broadcasting powerhouse.

Viacom18 is currently owned on a 51:49 basis by conglomerate Reliance Industries, through its subsidiary Network18, and US-based media group Paramount Global (formerly ViacomCBS), respectively. Network18 controls several linear television channels, including Colors, and OTT platform Voot, in addition to entertainment studios and cinemas.

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