The deal to merge Reliance Industries Ltd (RIL) subsidiary Viacom18 and The Walt Disney Companys local unit Star India will significantly alter the media and entertainment sector by creating the biggest media entity in the country, said industry executives and experts.
Walt Disneys local unit Star India will merge with Reliance Industries (RIL) subsidiary Viacom18 to create the countrys biggest media and entertainment business valued at about $8.5 billion.
Walt Disney s Star India will merge with Reliance Industries Viacom18 to create India s biggest media and entertainment business valued at $8.5 billion. Mukesh Ambani and Bob Iger will lead the merged entity. The venture will have exclusive rights to distribute Disney films and productions in India.
Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the world's most populous nation. Reliance, which will control the joint venture, directly owns 16.34% of the merged entity, which it has valued at $8.5 billion. Disney will own a 36.84% stake in the merged entity, and Reliance-backed Viacom18, which also counts Paramount Global and James Murdoch's Bodhi Tree among its backers, will own 46.82% stake.
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