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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