Reliance Industries Limited (RIL), The Walt Disney Company and Viacom18 Media Private Limited, have officially completed a groundbreaking merger that combines Viacom18’s media and JioCinema businesses with Star India Private Limited (SIPL). Valued at Rs 70,352 crore (~$8.5 billion), this joint venture (JV) marks a new era for India’s media and entertainment landscape.
RIL invested Rs 11,500 crore (~$1.4 billion) into the JV, which now has a post-transaction ownership of 16.34% by RIL, 46.82% by Viacom18, and 36.84% by Disney. Nita Ambani will serve as Chairperson, with Uday Shankar as Vice Chairperson, leading a powerhouse entity that unites brands such as Star, Colors, JioCinema, and Hotstar under one banner.
The merged entity will produce over 30,000 hours of content annually across 100+ TV channels and serve a digital subscriber base of more than 50 million. It also boasts a stellar portfolio of sports rights, covering marquee cricket and football events. Mukesh Ambani, Chairman of RIL, described the JV as ushering in a “transformational era,” offering unmatched content choices at affordable prices. Disney CEO Robert A. Iger expressed confidence in the venture, highlighting its role in expanding Disney’s presence in India.
The merger has received regulatory approvals from NCLT Mumbai, CCI, and antitrust bodies in regions like the EU, China, South Korea, and others. Operational leadership will be handled by three CEOs: Kevin Vaz (entertainment), Kiran Mani (digital), and Sanjog Gupta (sports).
Additionally, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for Rs 4,286 crore, raising its ownership stake in Viacom18 to 70.49%. Uday Shankar, Co-Founder of Bodhi Tree Systems, remarked on the potential of this integration, emphasizing its ability to revolutionize India’s media ecosystem through a seamless TV-digital convergence and innovative consumer experiences.
This joint venture solidifies its place as India’s largest integrated media platform, poised to redefine how audiences consume entertainment and sports content.
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