The merger between Viacom18 Media-owned video streaming app Voot and Reliance's JioCinema is in the final stages and may be announced by May end, a report by Mint said on Monday. The companies are waiting for the ongoing season of the Indian Premier League (IPL) to conclude before finalising the merger.
In September last year, the Competition Commission of India (CCI) approved the merger of JioCinema with Viacom18. The company had also won the digital rights to broadcast IPL 2023 for Rs 23,757 crore.
Reliance and Viacom18 also tied up with James Murdoch and Uday Shankar-backed Bodhi Tree Systems, which will put in Rs 4,306 crore in Viacom18 as the first tranche of a total investment of Rs 13,500 crore.
The report added that Jio Studio may also invest Rs 2,200 crore to create a platform comprising 100 movies and web originals to improve consumer engagement and boost business. Voot will bring in more mass market-centric shows.
Also, last month Warner Bros Discovery and Viacom18 signed a multi-year agreement that made JioCinema the new platform for HBO, Max Original, and Warner Bros content in India. The deal includes current and future seasons of HBO's series such as House of The Dragon, The Last of Us, Succession and The White Lotus, and returning seasons of True Detective: Night Country, Euphoria, Winning Time: The Rise of the Lakers Dynasty and Perry Mason.
Max Original series including, "And Just Like That" ("Sex and the City" spin-off sequel), "Peacemaker", and "The Flight Attendant", highly anticipated premieres of shows such as "Dune: The Sisterhood", "The Batman" spin-off "The Penguin", and "Duster", from J J Abrams and LaToya Morgan, as well as much-loved Warner Bros. Television series such as "East New York" and "Gotham Knights" are also part of the slate.
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Future Warner Bros. blockbuster movies and a vast film library including the "Harry Potter" and "Lord of the Rings" film series and DC Universe movies, as well as kids' animation titles such as "Dexter's Laboratory" and "Tom and Jerry Kids" will also be available on JioCinema.
After the content was made live on the platform, JioCinema launched a Rs 999 per year pack to stream these shows.