Key Points
Reliance Industries Limited (RIL), Viacom 18 Media Private Limited (Viacom18) and The Walt Disney Company (NYSE:DIS) (Disney) today announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India..
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...
The combination of the media expertise, cutting-edge technology and diverse content libraries of Viacom18 and Star India will allow the JV to offer more appealing domestic and global entertainment content and sports livestreaming services, while delivering an innovative and convenient digital entertainment experience at affordable prices..
With the addition of Disneys acclaimed films and shows to Viacom18s renowned productions and sports offerings, the JV will offer a compelling, accessible and novel digital-focused entertainment experience to people in India and the Indian diaspora globally...
Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the countrys leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content...
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