Key Points
, the businesswoman and wife of billionaire Mukesh Ambani, is set to assume the role of Chairperson for the newly formed entity..
This strategic partnership is expected to create synergies that leverage the strengths of both conglomerates, offering a diverse range of content to a wide audience.. follows its long-drawn struggle to arrest a user exodus from its bleeding India streaming business and financial strain caused by billions of dollars in Indian cricket rights payments..
The merger valued the India business of the Burbank-based entertainment giant at just around a quarter of the $15 billion it was valued at when Disney acquired it as part of its Fox deal in 2019, sources have said...
Together, the Reliance-Disney merged entity will have 120 TV channels and two streaming platforms, helping Ambani emerge as a bigger, formidable force against rivals such as Japan's Sony , India's Zee Entertainment and Netflix in the $28 billion media and entertainment sector...
"The JV will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, bringing together iconic media assets across entertainment," the companies said in a joint statement..
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