James Murdoch’s Bodhi Tree slashes planned investment in Reliance JV Viacom18 by 70% to Rs 4,306 crore

Bodhi Tree, a joint venture between James Murdoch and a former Star India executive, has reduced its planned investment in Reliance’s broadcast venture Viacom18 by 70% and will now pump in Rs 4,306 crore ($527.84 million), Viacom18 said late on Thursday.

Billionaire Mukesh Ambani’s Reliance Industries had said in April last year that Qatar Investment Authority-backed Bodhi Tree would spend Rs 13,500 crore out of a planned Rs 15,145 crore investment in the media behemoth that is also backed by Paramount Global.