Reliance Industries Limited and Walt Disney Company have officially joined forces in India, forming an $8.5 billion media and entertainment powerhouse. Nita Ambani, wife of Mukesh Ambani, will lead as chairperson, with Uday Shankar as vice chairperson. As part of the agreement, Viacom18’s media division will merge into Star India through a court-approved scheme of arrangement.
After the merger, Reliance will predominantly control the joint venture (JV), holding over 60% stake, with Disney at 36.84%. Reliance will invest Rs 11,500 crore in the JV, while Disney may contribute additional media assets, pending approvals.
The merged entity, combining Viacom18 and Star India, aims to dominate TV and digital streaming in India, uniting renowned media assets. Notable brands like Colors, StarPlus, StarGOLD, Star Sports, and Sports18 will be consolidated under one roof. The JV anticipates reaching over 750 million viewers in India and serving the global Indian diaspora.
Collectively, the Reliance-Disney entity will boast 120 TV channels and two streaming platforms, positioning itself as a significant competitor in the $28 billion media and entertainment sector.
For Disney, this merger is crucial, offering relief amid struggles in India’s streaming business. The move aligns with Disney’s global efforts to streamline operations. Reliance, on the other hand, sees this JV as an opportunity to expand further in India’s rapidly growing media and entertainment domain.
Mukesh Ambani views this agreement as a landmark, heralding a new era in the Indian entertainment industry. The strategic joint venture aims to deliver unparalleled content at affordable prices, leveraging the extensive resources, creative prowess, and market insights of both Reliance and Disney.
