Reliance and Disney Complete $8.5 Billion Merger, Nita Ambani to Chair New Joint Venture with 50M+ Subscribers

Nov 14, 2024, 12:54 PM

Reliance Industries Limited, Viacom18 Media Private Limited, and The Walt Disney Company have completed a significant merger to form a joint venture (JV) focused on entertainment brands in India. The deal, valued at approximately $8.5 billion (Rs 70,352 crore), marks a major consolidation in the Indian media landscape. Nita Ambani has been appointed as the Chairperson of the new JV. This merger is expected to create India's largest media group with an estimated annual revenue of $3.1 billion and over 50 million streaming subscribers. The merger received approval from the National Company Law Tribunal (NCLT) in Mumbai, paving the way for the completion of this strategic alliance.