Key Points
Reliance Industries Limited and The Walt Disney Company officially inked a binding agreement on Wednesday to create an $8.5 billion media joint venture...
"Reliance Industries Limited, Viacom 18 Media Private Limited and The Walt Disney Company today announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India,," said the companies in a joint statement...
"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," said a press release confirming the merger," added the statement...
The joint venture will be valued at $8.5 billion or Rs 70,352 crore, far ahead of other companies in the media and entertainment domain in India..
As part of the binding agreement, Viacom18's media business will be integrated into Star India Private Limited (SIPL) through a court-approved arrangement..
You might be interested in
RIL to merge Viacom18 with Disney's Star in $8.5bn deal
29, Feb, 24India Business News: Reliance Industries and Walt Disney have signed a binding pact to merge their media operations in India in an $8.5-billion deal. The merger will create a behemoth with 120 TV channels and two digital OTT platforms. Reliance will own 63% in the merged entity, while Disney will hold the remaining 37%. Nita Ambani will lead the merged company's board.
Viacom18 and Star India merger talks in advanced stage
03, Feb, 24Reliance could hold more than 51% of the shareholding in the proposed Star-Viacom18 merged entity, with Disney owning a 40% stake, one of the people said. Uday Shankar and James Murdoch-promoted Bodhi Tree Systems' stake in the merged entity could be 7-9%.Another person said Reliance is anticipated to inject additional capital in the merged entity, establishing it as a direct subsidiary.
Merger with Reliance would boost company's profits and reduce risk in India: Disney CEO Bob Iger
10, Mar, 24India Business News: Walt Disney CEO Bob Iger has stated that the joint venture with Reliance Industries will benefit the company by increasing profits and reducing risk i
Reliance, Disney announce media assets merger, Nita Ambani to chair venture
28, Feb, 24The media undertaking of Viacom18 will be merged into Star India Private Limited through a court-approved scheme of arrangement.
Disney and Mukesh Ambani merge their media businesses in India
28, Feb, 24Disney is joining forces with Asia’s richest man to create a new media giant in India that says it will reach an audience of more than 750 million people.
It's official! Reliance signs binding merger with Walt Disney; full details here
28, Feb, 24Reliance Industries, Viacom 18 Media, and Walt Disney partner up to create a joint venture merging Star India and Viacom18, with Reliance investing Rs 11,500 crore ($1.4 billion) into the new enterprise.
Reliance shares jump after sealing mega media merger with Disney
29, Feb, 24Reliance shares emerged as the top gainer on the stock exchanges after its mega media merger deal with Disney.
JV deal with Reliance Industries will help Disney derisk in India: Bob Iger
09, Mar, 24Mounting losses from the Indian sports business and the decline in Disney+ Hotstar's subscribers due to the loss of the Indian Premier League (IPL) digital rights had compelled Disney to consider strategic options for its India business. RIL's Viacom18 will merge into Disney's Star India to create an $8.5 billion media entity. Viacom18 is valued at $4 billion, while Star India is valued between $3-3.5 billion.
Analysis-Technology and cricket big wins for billionaire Ambani in Disney tie-up
01, Mar, 24By Munsif Vengattil and M. Sriram BENGALURU (Reuters) - A Disney-Reliance assets merger in India will create a media giant far bigger than all its rivals, boosting billionaire Mukesh Ambani's