Reliance Foundation Chairperson Nita Ambani and Reliance Jio Infocomm Chairman Akash Ambani have joined the board of directors of Viacom18. Industry sources gave this information.
This change has been made ahead of the merger of Viacom18 with the Indian business of global media giant Walt Disney.
Viacom18 is a holding company that owns the media and entertainment businesses of billionaire businessman Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems.
The merger of Walt Disney and Viacom18-owned Star India has received regulatory approval from the Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT).
Mohammed Ahmed Al-Hardan, head of technology, media and telecommunications at Qatar Investment Authority (QIA), a major investor in Bodhi Tree, and its co-sponsor James Murdoch are also joining the board following the restructuring.
Additionally, Jyoti Deshpande, president, media and content business at RIL, and Shuva Mandal, partner at Anagram Partners, have also been appointed to the board of Viacom18.
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