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News on Medial
RIL Tata JV: Mukesh Ambani's Reliance mulls buying 29% stake in Tata Play
Livemint
·
1y ago
Medial
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.
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Related News
RIL eyes stake in Tata Play; Warburg, Bain compete for Shriram Housing
VCCircle
·
1y ago
Medial
Reliance Industries (RIL) is reportedly in discussions to acquire a 29.8% stake in Tata Play from the Walt Disney Company. This potential deal would mark a significant joint venture between two major Indian conglomerates. The value of Disney's stake in Tata Play is currently being assessed by bankers. In other news, Warburg and Bain are said to be competing for Shriram Housing.
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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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RIL may pay $2.3 bn for 60% stake in Disney India assets
Livemint
·
1y ago
Medial
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.
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Tata Group Mulls Acquisition Of Disney’s Stake In Tata Play
Inc42
·
1y ago
Medial
Tata Group is reportedly in discussions to acquire Walt Disney Co.'s stake in Tata Play, aiming for complete ownership of the direct-to-home (DTH) player. The potential deal could value Tata Play at $1 billion or higher. Tata Play, formerly known as Tata Sky, was launched in 2004 as a joint venture between Tata Sons and Network Digital Distribution Services. After Disney acquired 21st Century Fox, it became a stakeholder in Tata Play. This move follows Reliance Industries, Viacom 18, and Disney signing agreements to establish a joint venture in India's media and entertainment industry.
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Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus
Livemint
·
11m ago
Medial
Reliance Industries Limited (RIL) is holding its annual general meeting (AGM) today, where Chairman Mukesh Ambani is expected to make key announcements. This includes providing a timeline for the listing of Reliance Retail and Reliance Jio Initial Public Offerings (IPOs). The AGM, attended by 3.5 million shareholders, is set for August 29, 2024, starting at 2:00 PM.
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The curious case of Disney’s 30% stake in Tata Play
Livemint
·
1y ago
Medial
Disney's attempt to sell its stake in Indian DTH provider Tata Play has hit a roadblock as the Tata Group has refused to buy. Disney inherited the 30% stake as part of its acquisition of 21st Century Fox assets. The company has been seeking an exit from the distribution business, but so far no one has shown interest in buying the stake. The stake in Tata Play is separate from the proposed merger between Disney's local business and Reliance Industries-owned Viacom18. Disney had hoped to exit Tata Play through an IPO, but the valuation of the company has dropped to $1bn from $3bn in 2019.
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RIL AGM today: Timing, when and where to watch livestream and more details | Mint
Livemint
·
11m ago
Medial
Reliance Industries (RIL) will hold its 47th Annual General Meeting (AGM) virtually today, August 29. RIL Chairman, Mukesh Ambani, is expected to address shareholders and outline the company's achievements, future strategies, and potentially unveil major initiatives. The AGM will determine shareholder eligibility for the FY24 dividend, if declared, and is generating significant interest among investors and industry analysts. The event will be live-streamed on various platforms, including JioMeet, YouTube, Facebook, and Twitter. Market expectations include potential announcements regarding Reliance Jio IPO and Reliance Retail IPO.
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Reliance-backed Indian startup to launch humanoid robot in 2025
Internet
·
8m ago
Medial
Mukesh Ambani's Reliance Industries-backed Addverb Technologies has announced plans to launch a humanoid robot next year. The AI-powered robot will handle '3D' tasks (dull, dirty and dangerous) across industries like retail, energy, and fashion, CEO Sangeet Kumar said. In 2022, Reliance acquired a 54% stake in the Noida-based startup for $132 million.
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Reliance chairman Mukesh Ambani draws nil salary for fourth straight year in FY24, sticks to COVID-year protocol | Mint
Livemint
·
11m ago
Medial
Mukesh Ambani, Asia's richest man and chairman of Reliance Industries, did not receive any salary for the fourth consecutive year in 2023-24. He had capped his annual remuneration at ₹15 crore since 2008-09 and chose to forego his salary due to the COVID-19 pandemic. Ambani's children, who are on the board of the company, received a sitting fee and commission. Overall, Ambani's net worth is $109 billion, and he and his family own a 50.33% stake in Reliance.
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Disney said to near multibillion-dollar India deal with Reliance
Economic Times
·
1y ago
Medial
Reliance Industries, led by Mukesh Ambani, is reportedly nearing a cash and stock deal to purchase Walt Disney's India operations. Disney may sell a controlling stake in its Disney Star business, valued at around $10 billion, to Reliance. The deal could be announced as early as next month, and it may involve merging some of Reliance's media units into Disney Star. Disney might retain a minority stake in the Indian company. These discussions highlight Ambani's disruption of India's entertainment industry.
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