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RIL announces Rs 70,352 crore JV with Disney to merge streaming, TV assets in India

Money Control

Money Control · 1y ago

RIL announces Rs 70,352 crore JV with Disney to merge streaming, TV assets in India

Reliance Industries Ltd has announced a merger between its subsidiary Viacom18 and Star India, the Indian unit of Walt Disney Co., creating one of India's largest TV and digital streaming platforms. The joint venture, valued at $8.5 billion, will be controlled by Reliance with a 16.34% ownership stake, while Viacom18 will hold 46.82% and Disney will hold 36.84%. The new entity aims to become a dominant force in television and streaming, with a combined viewership of over 750 million across India and the Indian diaspora. The transaction is expected to close in Q4 2024 or Q1 2025, subject to regulatory approvals.

Related News

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Livemint

Livemint · 1y ago

RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play

Mukesh Ambani's Reliance Industries (RIL) is reportedly in talks to acquire a 29.8% stake in Tata Play, the satellite TV and streaming service owned by Walt Disney. This potential deal would expand RIL's presence in the television distribution sector, potentially creating a major media powerhouse in India. RIL is also in merger talks with Disney to create a media behemoth, with Reliance potentially investing $1.5 billion for a 60% stake. RIL's share price recently hit a record high, propelling its market capitalization to nearly ₹20 lakh crore.

Media empire takes shape, with Reliance-Disney at helm

Livemint

Livemint · 1y ago

Media empire takes shape, with Reliance-Disney at helm

Reliance Industries and The Walt Disney Co. have formed a joint venture to establish a media powerhouse in India's rapidly growing media and entertainment market. The joint venture will merge the operations of Reliance's associate company, Viacom18 Media, with Disney's Star India, and will also receive an investment of INR 11,500 crore from Reliance Industries. The combined entity will have a valuation of INR 70,352 crore and will have exclusive rights to distribute Disney films and content assets in India. The joint venture aims to take on streaming giants like Netflix and Amazon in the Indian market.

RIL, Disney merge assets to create ₹70,352 crore media giant; 5 key highlights

Livemint

Livemint · 1y ago

RIL, Disney merge assets to create ₹70,352 crore media giant; 5 key highlights

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.

Disney+ Hotstar And JioCinema Valued Higher Than Parent’s Linear TV Businesses: Report

Inc42 · 1y ago

Disney+ Hotstar And JioCinema Valued Higher Than Parent’s Linear TV Businesses: Report

EY was hired by Viacom18 for the valuation process before the merger deal with RIL and Disney's Star India. The deal, signed on February 28, will create an entity worth INR 70,352 Cr, with an INR 11,500 Cr fund infusion by RIL. Additionally, Disney is reportedly in talks to sell 60% of its Indian media business to Viacom18 for $3.9 Bn, which is lower than its value when Disney acquired it in 2019.

RIL may pay $2.3 bn for 60% stake in Disney India assets

Livemint

Livemint · 1y ago

RIL may pay $2.3 bn for 60% stake in Disney India assets

Reliance Industries Ltd (RIL) is set to acquire a 60% stake in Disney Star's linear TV and digital businesses in India for $2.28-2.4 billion, valuing them at $3.8-4 billion. The deal involves the transfer of Indian TV and digital assets to a new company, in which RIL will buy the majority stake. The transaction excludes Disney Star's stake in Tata Play, consumer products business, and ILM. The plan includes merging Viacom18, in which Reliance owns a majority stake, with the new Disney Star entity. The deal is expected to be announced soon.

Reliance, Disney to merge India media assets to create $8.5 bn powerhouse

VCCircle

VCCircle · 1y ago

Reliance, Disney to merge India media assets to create $8.5 bn powerhouse

India's Reliance Industries and Walt Disney have announced the merger of their India TV and streaming media assets, creating an $8.5 billion entertainment giant. Reliance will inject $1.4 billion into the merged entity, with the company and its affiliates holding a 63% stake and Disney owning the rest. The merger will give Reliance significant bargaining power in negotiating advertising contracts, while providing Disney with a cash cushion. The combined entity will have 120 TV channels, two streaming platforms, and TV and streaming cricket rights for key tournaments.

RIL-Disney Merger: Media Giants Seek To Allay Antitrust Concerns

Inc42 · 1y ago

RIL-Disney Merger: Media Giants Seek To Allay Antitrust Concerns

Summary: Reliance Industries Limited (RIL) and The Walt Disney Company have defended their proposed merger before the Competition Commission of India (CCI). They stated that the merger would not negatively impact advertisers due to the wide consumption of content across platforms by Indian audiences. The merger, if approved, will create India's largest entertainment conglomerate, with over 120 TV channels and two streaming platforms.

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

Reuters · 1y ago

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

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.

Reliance, Disney Ink Deal For Star-Viacom18 Merger

Inc42 · 1y ago

Reliance, Disney Ink Deal For Star-Viacom18 Merger

Reliance Industries and the Walt Disney Company have signed an agreement to merge Viacom18 and Star India, creating India's largest media empire. With over 100 TV channels and two streaming platforms, the merged entity will hold significant market shares in TV broadcasting and subscription and advertising video-on-demand segments. Reliance will own a 61% stake in the merged entity, while Disney will hold 33%. The deal is expected to be announced soon and will also involve the buyout of Paramount Global's stake in Viacom18. The merger is subject to review by the Competition Commission of India.

How Reliance-Disney Merger Is All Set To Change India’s OTT Arena

Inc42 · 1y ago

How Reliance-Disney Merger Is All Set To Change India’s OTT Arena

Reliance Industries Limited (RIL), Viacom 18 Media Private Limited (Viacom18), and The Walt Disney Company have entered into a joint venture to combine the businesses of Viacom18 and Star India Private Limited. The merged entity will have over 100 TV channels and two leading OTT platforms, Disney+ Hotstar and JioCinema. The partnership is expected to disrupt the streaming market in India, with the potential to compete with Netflix and Amazon Prime Video. It will also dominate the Indian sports market, accounting for a significant share of advertising revenue.

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