Bodhi Tree raises holding in Viacom18 by 2.9% in Rs.953-Cr deal: report

Uday Shankar and James Murdoch-promoted Bodhi Tree Systems has paid INR 953.23 crore to purchase an additional 2.89% stake in Mumbai-based Viacom18. The company bought the additional stake from Reliance Industries Ltd (RIL), the majority shareholder in the company. Bodhi Tree's holding in Viacom18 has increased to 15.97% following the latest stake acquisition. In April, it had acquired a 13.08% stake in Viacom18. Founded in 2007, Viacom18 Media Pvt Ltd is a joint venture between Network18 Group (a subsidiary of Reliance Industries) and Paramount Global. It owns various TV channels, as well as content production studios in India.