Reliance Industries Limited (RIL), Viacom 18 Media Private Limited and The Walt Disney Company announced the signing of binding definitive agreements to form a joint venture that will combine the businesses of Viacom18 and Star India on Wednesday, February 28, 2024. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of arrangement. In addition, RIL has agreed to invest at closing Rs 11,500 crore (~US$ 1.4 billion) into the joint venture for its growth strategy. According to reports, Nita Ambani will be the Chairperson of the joint venture with Uday Shankar as Vice Chairperson providing strategic guidance to the joint venture. Reliance-Disney Deal: Walt Disney and Reliance Industries Sign Non-Binding Agreement to Merge Indian Media Operations, Says Report.

Reliance, Walt Disney Merge Media Operations in India

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