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News on Medial
JioStar to invest $10 billion in content in 3 years, says vice chairman Uday Shankar
Economic Times
·
3m ago
Medial
JioStar plans to invest USD 10 billion in content creation over three years in India, according to Vice Chairman Uday Shankar. This investment is part of a broader strategy to tailor content to Indian audiences and enhance distribution. In the past fiscal years, significant amounts were already spent on content. The Indian screen entertainment industry is valued at USD 30 billion, with room for growth compared to larger markets like the US and China.
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Reliance to take over Disney India’s biz in $8.5-bn merger
The Arc Web
·
1y ago
Medial
Reliance Industries and Walt Disney are merging their entertainment businesses in a deal that values the new entity at $8.5 billion. Reliance Industries will invest $1.4 billion, gaining a 16% stake in the joint venture. The merged company will have a 10-member board, with Nita Ambani as chairperson and Uday Shankar as vice chairman. The deal is expected to be completed by March 2025, subject to regulatory and shareholder approvals. Disney will have a 37% stake in the merged unit, which will hold exclusive distribution rights for Disney content in India.
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Reliance, Disney to merge India media assets to create $8.5 billion powerhouse
Reuters
·
1y ago
Medial
Reliance Industries and Walt Disney have announced a merger of their India TV and streaming media assets, creating an $8.5 billion entertainment company. Reliance will invest $1.4 billion in the merged entity, giving it a majority stake of over 63%, while Disney will hold about 37%. The merger aims to help Disney revive its struggling India streaming business and ease its financial strain. The combined entity will be led by Nita Ambani, wife of Reliance Chairman Mukesh Ambani, and former top Disney executive Uday Shankar as the vice chair.
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RIL, Disney merge assets to create ₹70,352 crore media giant; 5 key highlights
Livemint
·
1y ago
Medial
Billionaire Mukesh Ambani's Reliance Industries Limited (RIL) and global media giant Walt Disney have signed definitive agreements to merge their media operations in India, forming a media behemoth valued at ₹70,352 crore. The merger will see the media undertaking of Viacom18 integrated into Star India. Nita M Ambani will chair the board of the combined entity and Uday Shankar, former Disney executive, will serve as vice chairman. Reliance will invest ₹11,500 crore into the joint venture to expand its over-the-top (OTT) business. The merged entity will have over 100 channels, two leading OTT platforms, and a viewer base of 750 million in India.
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Azim Premji’s family office crosses $10 bn in managed assets
The Arc Web
·
1y ago
Medial
Premji Invest, the family office of Wipro founder chairman Azim Premji, has rapidly grown its assets under management to over $10 billion, with a potential value exceeding $14 billion. With investments in both public and private companies in India and the US, the firm's overseas assets under management are estimated at around $4 billion. The philanthropic entity Azim Premji Foundation serves as the sole limited partner of Premji Invest, contributing approximately $2-3 billion to its investments. Premji Invest, accounting for roughly one-third of Wipro's market cap, supports the foundation through its profits and proceeds.
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Vedanta Resources to deleverage debt by $3 billion over three years
Livemint
·
1y ago
Medial
Vedanta Resources, the parent company of Vedanta Limited, is aiming to reduce its debt by $3 billion over the next three years, according to Navin Agarwal, Vice Chairman of Vedanta Ltd. The company is prioritizing deleveraging and has no plans for a loan rollover in the coming years. Vedanta Ltd's cash flow is estimated to be around $3.5-4 billion for the financial year 2025, which is sufficient to meet secured debt maturities. The company plans to utilize brand fees, dividends, asset monetization, and other strategic initiatives to manage its debt obligations.
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Deal with James Murdoch may augur well for Viacom18
Business Today
·
5m ago
Medial
Viacom18's collaboration with James Murdoch and Uday Shankar could bolster its bid for IPL broadcasting rights. The partnership positions the company strategically, potentially marking an aggressive entry into the highly competitive sports broadcasting arena. Leveraging Shankar's expertise, Viacom18 aims to expand its media and entertainment influence, enhancing its capability to secure premium content. This development is pivotal for Viacom18’s growth, especially in the context of acquiring marquee sports properties like the IPL.
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Advent may invest up to $10 bn in India; Mizuho to buy stake in lender
VCCircle
·
1y ago
Medial
US private equity firm Advent International plans to invest $5-10 billion in India over the next five years. Despite concerns about high valuations, Advent remains optimistic about the Indian market. Advent International Chairman David Mussafer stated that the firm has already invested $5.8 billion in India since 2009 and is looking to make further significant investments. In another development, Mizuho is set to acquire a stake in an Indian lender.
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Paramount Global to sell stake in India's Viacom18 to Reliance for over $500M
TechCrunch
·
1y ago
Medial
Paramount Global has agreed to sell its stake in Indian media house Viacom18 to Reliance for over $500 million. Reliance will increase its stake in Viacom18 to 70.49% with this deal. This comes after Disney announced plans to merge its India business with Viacom18. The merger is expected to create a joint venture valued at $8.5 billion. Viacom18 is also backed by investment firm Bodhi Tree, run by James Murdoch and Uday Shankar.
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Swiggy appoints Supriya Shankar as VP of Events and Experience
YourStory
·
8m ago
Medial
Swiggy has appointed Supriya Shankar as its Vice President of Events and Experience. Shankar brings 14 years of experience in internet commerce and has held leadership roles at companies like Lenskart, Airtel, Zomato, and OYO. Swiggy has recently made key additions to its leadership team as part of its IPO strategy to scale operations and improve service quality. The company's shares were listed at a premium on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) earlier this week.
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Mukesh Ambani's Reliance to acquire over 50% stake in Disney India
Livemint
·
1y ago
Medial
Reliance Industries is reportedly in talks to acquire a majority stake, between 51% and 54%, in Disney India's media businesses, valuing it at $3.5 billion. Additionally, Bodhi Tree, a joint venture between James Murdoch and Uday Shankar, may also acquire a 9% stake in the merged entity. Reliance aims to merge its broadcast division Viacom 18 with Disney India's businesses to create an entertainment powerhouse in India. The deal is expected to be finalized in February.
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