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Fair-trade regulator CCI on Wednesday cleared the purchase of stake in BTS Investment 1 Pte and Bodhi Tree Systems VCC by NBC Universal Media. BTS Investment 1 Pte Ltd (BTS Investment) is an investment venture firm of Asia Initiatives Pte Ltd, which is jointly held by James Murdoch's Lupa Systems and ex-chairman of Star and Disney India Uday Shankar, while Bodhi Tree Systems VCC (BTS VCC) is an affiliate of Asia Initiatives. The proposed combination pertains to acquisition by NBC Universal Media LLC (NBC Universal) of certain shareholding of BTS Investment and BTS VCC. Further, a portion of the proceeds from the investment will be used by BTS Investment for further investment into Viacom18 Media Private Limited (Viacom18), CCI said in a release. Last year in February, Murdoch and Shankar announced the formation of the firm, Bodhi Tree Systems (BTS). Thereafter, in April, BTS announced that it is raising funds with a consortium of investors to invest Rs 13,500 crore in Viacom 18, a
Michael Phelps will be part of NBC's Olympics coverage as a correspondent and swimming commentator, the network announced. Phelps who has won the most medals (28) and gold medals (23) in Olympic history will call selected swimming events with Dan Hicks and Rowdy Gaines and contribute features as a correspondent during primetime coverage. Phelps, who swam in five Games from 2000-16, did some work for NBC during its coverage of last month's U.S. swimming trials. I know he's going to offer some incredible insight on especially those races that he has won so many gold medals in, Gaines said during a teleconference. A three-part retrospective on Phelps' career is streaming on NBC's Peacock platform.