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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.

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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.

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.

Disney, Reliance sign binding pact to merge media operations in India: Report

Livemint

Livemint · 1y ago

Disney, Reliance sign binding pact to merge media operations in India: Report

Walt Disney and Reliance Industries have reportedly signed a binding agreement to merge their media operations in India. Under the deal, Reliance will own a 61% stake in the merged entity as Disney reassesses its strategy in the country amid intense competition. The distribution of shares may change based on the inclusion of Disney's additional local assets. Reliance Industries is also considering acquiring Tata Play, a broadcast service provider in which Disney holds a minority stake. The merger aims to create a powerful media giant in India's rapidly growing entertainment market.

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.

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.

Disney, Reliance sign non-binding agreement for Indian media operations merger

Livemint

Livemint · 1y ago

Disney, Reliance sign non-binding agreement for Indian media operations merger

According to a report by ET, Walt Disney and Reliance Industries have agreed to merge their Indian media operations. The deal, which is expected to be completed by February 2024, will see Reliance Industries holding a 51% stake while Disney will have the remaining 49%. This merger will create one of India's largest entertainment empires, competing with other television and streaming giants.

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 working on terms to merge media operations in India: Report

Livemint

Livemint · 1y ago

Reliance, Disney working on terms to merge media operations in India: Report

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.

Reliance Industries, Disney begin antitrust due diligence for India business merger

VCCircle

VCCircle · 1y ago

Reliance Industries, Disney begin antitrust due diligence for India business merger

Indian conglomerate Reliance Industries and entertainment giant Disney have initiated antitrust due diligence for their planned merger in the Indian media and entertainment industry. Reliance has appointed law firms Khaitan & Co and Shardul Amarchand Mangaldas, while Disney has enlisted the help of AZB & Partners. This move highlights progress towards the creation of an entertainment superpower in India, with Reliance expected to hold a majority stake in the combined entity. The possible merger is likely to face antitrust challenges, including shedding assets to address concerns over combined market power.

Mukesh Ambani's Reliance to acquire over 50% stake in Disney India

Livemint

Livemint · 1y ago

Mukesh Ambani's Reliance to acquire over 50% stake in Disney India

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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