Uday Shankar joins Viacom 18 board as Bodhi Tree investment formalised

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Viacom18 has said that following the sanction by NCLT Mumbai, the scheme of merger of Reliance Storage Limited with itself has become effective. Viacom18 has allotted shares to Bodhi Tree Systems and RIL group entities as consideration for the scheme of merger.

Upon consummation of this merger, the integration of JioCinema into Viacom18 has been completed; and Viacom18 has access to Rs 15,145 crore of cash for its planned growth, comprising Rs 10,839 crore contributed by RIL group entities and Rs 4,306 crore contributed by Bodhi Tree Systems. Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar, is an investor in Bodhi Tree Systems.

Uday Shankar and James Murdoch will provide strategic and operational guidance to Viacom 18.

Uday Shankar has been appointed to the Board of Viacom18. Paramount Global will continue as a shareholder and supply Viacom18 its premium global content.

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