Reliance and Disney finalize $8.5 billion joint venture in India
Reliance Industries and Disney Form Joint Venture to Transform Indian Entertainment
Reliance Industries Limited (RIL) and The Walt Disney Company have announced a strategic joint venture that is set to reshape the entertainment landscape in India. The transaction, valued at $8.5 billion, is poised to accelerate the Hon'ble Prime Minister's vision of making Digital India a global exemplar.
The joint venture will combine the businesses of RIL's Viacom18 and Disney's Star India. Post completion, RIL will control 63% of the JV, with Disney holding 37%. The combined entity will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, catering to over 750 million viewers across the country and the Indian diaspora globally.
Mukesh D Ambani, Chairman & Managing Director of Reliance Industries, has declared the joint venture with Disney as a landmark agreement. He expressed his respect for Disney as the best media group globally and his excitement about the strategic joint venture. Bob Iger, CEO of The Walt Disney Company, shares the sentiment, expressing his enthusiasm about the opportunities the joint venture will provide in India.
RIL has agreed to invest $1.3 billion into the JV for its growth strategy. The JV will offer consumers high-quality and comprehensive content offerings anytime and anywhere, aiming to deliver unparalleled content at affordable prices to audiences across India.
The joint venture will pool extensive resources, creative prowess, and market insights of both companies. It will have exclusive rights to distribute Disney films and productions in India, with a license to over 30,000 Disney content assets. Disney may also contribute additional media assets to the JV, subject to approvals.
Shankar, Co-founder of Bodhi Tree Systems, is privileged to be enhancing the relationship with Reliance to include Disney. All parties involved are committed to delivering exceptional value to their audiences, advertisers, and partners.
The search results do not contain information about the specific permits or approvals required for the fusion of Reliance Industries Limited and The Walt Disney Company in India. The transaction is subject to regulatory, shareholder, and other customary approvals and is expected to be completed in the last quarter of Calendar Year 2024 or first quarter of Calendar Year 2025.
The joint venture aims to shape the future of entertainment in India and contribute significantly to the Hon'ble Prime Minister's vision of making Digital India a global exemplar. With the combined strength of Reliance and Disney, the joint venture is set to redefine the Indian entertainment industry.
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