Bakish believes that apart from the investments from Bodhi Tree, the strategic partnership with Reliance will help Viacom18 drive the next level of growth in India
The new firm will invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India, said the duo in a statement
Media watchers say the deal will prove beneficial for Viacom18 as Shankar and Murdoch are not just bringing funds but also their expertise in running a large-scale media company
Investment company Lupa India is set up by James Murdoch, former chief executive officer of 21st Century Fox, with a focus on media, education and healthcare, said media reports
The SPAC plans to target the media, entertainment, consumer technology, healthcare, and education industries in South and Southeast Asia, with a particular focus on India
The investment is expected to be instrumental in bolstering Dailyhunt's presence at a time when digital content consumption has grown due to the COVID-19 lockdown