Bodhi Tree Systems, an investment platform backed by James Murdoch’s Lupa Systems and Uday Shankar, has received financial support from Reliance and Paramount Global to launch Viacom18 as India’s television and digital streaming giant.

Murdoch’s Lupa Systems and Shankar, former CEO of Star India and president of Walt Disney in Asia Pacific, have established Bodhi Tree with financial support of up to $ 1.5 billion from the Qatar Investment Bureau to invest in media and consumer technology companies in Southeast Asia. special emphasis on India.

With Shankar and Murdoch as major shareholders, Bodhi Tree Systems plans to invest $ 1.78 billion in Viacom18, which includes a streaming platform with leading Indian video-on-demand and video-on-demand subscriptions. Paramount Global is also becoming a shareholder and major provider of programs for Viacom18.

The Indian media giant owns and operates a set of color TV channels and the VOOT streaming platform. The Viacom18 content library has approximately 75,000 hours of network programming, including the original Paramount and VOOT.

Separately, Reliance Projects & Property Management Services, a subsidiary of Reliance Industries, is to invest an additional $ 216 million in Viacom18. The investment agreements include a strategic partnership between Reliance, Bodhi Tree Systems and Paramount Global for the media and entertainment business in India.

The Viacom18 transaction is expected to close in six months and is subject to approval and closing conditions.