Comcast Corp, the world’s second-largest broadcasting and cable television company, has entered the Indian media and entertainment industry with an initial investment of ₹1,600 crore ($200 million) in Bodhi Tree Systems, an investment vehicle led by Uday Shankar and James Murdoch.
Comcast-run NBC Universal received approval from the Competition Commission of India (CCI) late Wednesday to invest in Bodhi Tree, a move that will pave the way for the American multinational, which also owns a majority stake in European satellite broadcaster Sky, a small indirect stake in Viacom18 Media.
“The CCI approves the acquisition of the certain shareholding of BTS Investment and Bodhi Tree Systems VCC (BTS VCC) by NBC Universal Media LLC, a wholly owned subsidiary of Comcast Corp. under Section 31(1) of the Competition Act, 2002," the competition watchdog said in a release.
The funds from NBC Universal’s investment in Bodhi Tree will be utilized to invest in Viacom18.
Denne historien er fra April 14, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 14, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Meta: An Antitrust Case That Sent A Privacy Alert
WhatsApp's owner was fined for abusing its market heft, but what it did also sparked an online stir over privacy-the protection of which under India's new law is keenly awaited
RBI cautions about Das deepfake video
The Reserve Bank of India (RBI) on Tuesday cautioned public against \"deepfake\" videos of the governor being circulated on social media that claim the launch of or support to some investment schemes by the central bank.
Blue Tokai eyes high growth before IPO
Coffee chain Blue Tokai is aiming for a nearly threefold jump in annual revenue by 2027 before it decides whether to go public, its top boss told Reuters on Monday.
Amazon expands exporter scheme
E-commerce major Amazon on Tuesday said it has expanded its cross-border logistics programme Global Selling Seller Exports and Delivery (SEND), which will help Indian exporters ship goods abroad.
NTPC Green IPO subscribed 33%
The initial public offer (IPO) of NTPC Green Energy Ltd, the renewable energy arm of state-run NTPC Ltd, was subscribed 33% on the first day of the share sale on Tuesday.
Google's Anthropic deal cleared in UK
Google's partnership with AI firm Anthropic has avoided further scrutiny after the UK antitrust watchdog concluded it doesn't qualify for a full-blown investigation under merger rules.
'Big Billion Days' boost for Walmart
U.S.-based retail giant Walmart on Tuesday said its international sales in the third quarter got a boost from the 'Big Billion Days' sales event by its Indian e-commerce arm Flipkart.
NCR records threefold jump in patients with breathing issues
Doctors and hospitals in the Delhi-National Capital Region (NCR) said they are seeing a threefold jump in patients reporting respiratory ailments triggered by alarming air pollution levels.
Paytm enables UPI payments abroad
Paytm owner One97 Communications on Tuesday said Paytm users will be able to make UPI payments at select international locations, including popular spots in the UAE, Singapore, France, Mauritius, Bhutan and Nepal.
Core biz to grow at 30% a year: Zomato
Food delivery major Zomato expects its key meal delivery business to grow at an annual rate of 30% over the next five years, a top executive said, hailing the listing of SoftBank-backed peer Swiggy as a boost for the sector.
