Reliance and Disney Complete Merger to Create a Rs. 70 4f2442 352 Crore t Venture

The new t venture comprising Reliance, Disney, and Viacom 18 will be headed by Nita Ambani. am4a

Written by Siddharth Suvarna | Updated: 14 November 2024 19:52 IST

Reliance and Disney Complete Merger to Create a Rs. 70,352 Crore t Venture

Photo Credit: Reuters 3v6d2p

Reliance Industries has invested Rs. 11,500 crores in the t venture

Highlights

Reliance Industries holds a 16.34 percent stake in the t Venture
Viacom 18 holds 46.82 percent while Disney holds a 36.84 percent stake
Star, Colors will be combined with the t venture on television side

ment

Reliance Industries Limited announced the completion of a merger with the India business of global media house Walt Disney on Thursday. With this, Viacom 18 Media Private Limited, Reliance Industries Limited, and The Walt Disney Company announced the formation of a t venture. The t venture was formed after the approval by the National Company Law Tribuna (NCLT) Mumbai, the Competition Commission of India (CCI), and other regulatory authorities. Reliance also announced that the transactional value of the t venture was evaluated at Rs. 70,352 crores on a post-money basis.

Reliance, Disney Complete Merger 6f1n22

In a press release, Reliance announced the completion of the merger with Disney following approvals from regulatory bodies. This comes after the two entities announced a strategic partnership to form a t venture in February. Reliance Industries has invested Rs. 11,500 crores into the t venture and holds 16.34 percent of the stake in the company. Reliance's step-down unit Viacom 18, which is also a partner in the t venture, holds a 46.82 percent stake in the venture while Disney holds the rest of the 36.84 percent.

The t venture will combine Star and Colors channels on the television side, while it will bring together JioCinema and Hotstar on the digital front. The t venture will be headed by Nita Ambani, who will act as the Chairperson of the entity.

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Highlighting the size of the t venture, the press release claimed that it holds a combined revenue of approximately Rs. 26,000 crores for the fiscal year that ended in March 2024. Further, the t venture will now operate more than 100 television channels that produce more than 30,000 hours of content annually.

On the digital front, Reliance claimed that Disney+ Hotstar have an aggregate subscription base of more than 50 million, however, this does not for any overlaps where a subscribes to both platforms. Additionally, the t venture also holds digital sports rights across cricket, football, and other sporting events.

Mukesh Ambani, the Chairman and Managing Director of Reliance Industries said after the merger, “Our deep creative expertise and relationship with Disney, along with our unmatched understanding of the Indian consumer will ensure unparalleled content choices at affordable prices for Indian viewers.”

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Further reading: Viacom 18

Akash Dutta Email Akash Dutta

Akash Dutta is a Senior Sub Editor at Gadgets 360. He is particularly interested in the social impact of technological developments and loves reading about emerging fields such as AI, metaverse, and fediverse. In his free time, he can be seen ing his favourite football club - Chelsea, watching movies and anime, and sharing ionate opinions on food. More