Nita AmbaniThe businesswoman and wife of billionaire Mukesh Ambani is set to take up the role of chairperson for the newly formed entity. Uday Shankar, an experienced media executive, will serve as Vice President, providing strategic guidance to the joint venture.
Reliance, led by Asia’s richest man Mukesh Ambani, will infuse Rs 11,500 crore (~US$1.4 billion) into the merged entity. In the combined entity, valued at Rs 10,352 crore, Reliance and its subsidiary will hold a majority stake of 63.16%, while Disney will retain ownership of 36.84%.
This strategic partnership is expected to create synergy that will leverage the strengths of both groups and offer a diverse range of content to a wider audience.
For Disney, Fusion It follows a long-running struggle to stem an exodus of users from its India streaming business and financial strain caused by billions of dollars in payments for Indian cricket rights. The merger brings the value of the Burbank-based entertainment giant’s Indian business to about a quarter of the $15 billion it was valued at when Disney acquired it as part of its Fox deal in 2019, sources said.
The partnership was strengthened through the signing of binding definitive agreements, wherein the media division of Viacom 18 will be seamlessly integrated into Star India Private Limited (“SIPL”) through a court-approved plan of arrangement.
Together, the Reliance-Disney merged entity will have 120 TV channels and two streaming platforms, giving Ambani a larger, formidable force in the $28 billion media and entertainment sector against rivals such as Japan’s Sony, India’s Zee Entertainment and Netflix. Will help in emerging as.
“The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media properties in the entertainment space,” the companies said in a joint statement.
