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Nita Ambani likely to Chair Reliance-Disney India media merger, says report
Livemint
·
1y ago
Medial
Nita Ambani, spouse of Mukesh Ambani, is set to become the chair of the board following the merger of Reliance Industries and Disney's Indian media assets. The merger deal, which has been in the works for months, is expected to be finalized soon. Nita Ambani recently stepped down from the RIL board, signaling a shift towards charitable endeavors. The merger will strengthen Reliance's position in India's media and entertainment market, with Reliance expected to secure a majority stake in the merged entity. James Murdoch and Uday Shankar's joint venture will acquire a 9% stake.
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Related News
Nita Ambani likely to be chair of merged Reliance-Disney media business
VCCircle
·
1y ago
Medial
Nita Ambani is likely to become the chair of the board for the merged media assets of Reliance Industries and Walt Disney in India, according to sources. The deal, expected to be announced soon, will strengthen Reliance's position in the country's media and entertainment industry. Nita Ambani, wife of Indian billionaire Mukesh Ambani, recently resigned from Reliance Industries' board to focus on charity work. The merger is estimated to value Disney's Indian operations at $3.5bn, significantly lower than previous estimates.
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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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Nita Ambani To Likely Helm The Board Of Reliance-Disney India Media Entity
Inc42
·
1y ago
Medial
Mukesh Ambani's wife Nita Ambani is expected to be appointed as the chair of the board for the merged media businesses of Reliance and Disney in India. The deal, which has been in the works for months, will give Reliance a 51-54% stake in the combined entity, with Disney holding around 40% and the remaining 9% owned by Bodhi Tree. The deal, worth $3.5 billion, will create the country's largest media empire, encompassing TV broadcasting, streaming platforms, and rights to major sports tournaments. The merger still needs approval from the Competition Commission of India.
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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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Reliance, Disney complete India media merger valued at $8.5B | TechCrunch
TechCrunch
·
7m ago
Medial
Reliance and Disney have completed their merger in India, creating an $8.5 billion entertainment giant. The joint venture will control 85% of India's streaming market and half of its television viewership. Reliance will hold 63.16% of the venture, with Disney retaining the rest. The deal combines Reliance's Viacom18 with Disney Star, bringing together streaming platforms JioCinema and Hotstar, along with more than 100 television channels. The merged group will have annual revenue of $3.1 billion and produce 30,000 hours of television content each year. Nita Ambani, wife of Reliance's CEO, will chair the venture.
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Reliance, Disney working on terms to merge media operations in India: Report
Livemint
·
1y ago
Medial
Reliance Industries, headed by Mukesh Ambani, is reportedly in talks with Walt Disney Co to merge their media operations in India. Reliance's Viacom18 unit would absorb Disney's Star India through a share swap deal, with Reliance owning a 51% stake and Disney owning 49%. The unit's board is expected to have equal representation from both parties. This merger comes after Disney explored options to sell or find a partner for its India assets. Reliance has been increasing competition in the streaming market by marketing its platform, JioCinema, with free access to the IPL cricket tournament.
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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 announces plans to set up new school led by Isha Ambani. Know more
Livemint
·
1y ago
Medial
Nita Ambani expressed excitement about the upcoming Nita Mukesh Ambani Junior School, focusing on a forward-looking educational approach with Indian values. She mentioned that the flagship Dhirubhai Ambani International School continues to excel. Nita Ambani resigned to make way for her children in Reliance. Isha, Akash, and Anant Ambani were appointed as non-executive directors, previously being involved at the operational level. They have been leading and managing key businesses within RIL, including retail, digital services, energy, and materials. Nita's resignation aims to focus on guiding Reliance Foundation's impactful work.
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RIL to buy out Paramount's 13.01% stake in Viacom18 for $517 million
Livemint
·
1y ago
Medial
Reliance Industries, led by Mukesh Ambani, is set to acquire Paramount Global's 13.01% stake in Viacom18 Media for approximately $517 million. Viacom18 owns popular television channels such as Comedy Central, Nickelodeon, and MTV, and is mainly owned by Reliance. The deal will not affect Paramount's content licensing agreement with Viacom18. However, the acquisition is subject to the finalization of Reliance's merger with Disney for their TV and streaming media assets in India.
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Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board
IndianStartupNews
·
1y ago
Medial
Nita Ambani, the wife of billionaire Mukesh Ambani, has resigned from the board of Reliance Industries to focus more on the Reliance Foundation. In her place, Isha Ambani, Akash Ambani, and Anant Ambani will be appointed as non-executive directors of the company. Nita Ambani's leadership of Reliance Foundation was acknowledged by the board, and she will continue attending RIL board meetings as a permanent invitee. The Ambani children have been actively involved in and leading various RIL businesses and subsidiaries.
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