An investment company set up by Rupert Murdoch’s son James and former Disney India executive Uday Shankar said on Wednesday it will invest $1.8 billion in Reliance Industries’ broadcasting business Viacom18.
Indians are rapidly adopting streaming platforms including Netflix and Amazon’s Prime Video, which have been offering cheaper plans and local language content.
As well as streaming platform “VOOT”, Viacom18 runs several TV channels in India, including Nickelodeon and Comedy Central.
Reuters reported in January that Reliance was in talks with James Murdoch and Shankar on them taking a significant stake in Viacom18.
Read more: Reuters
