Key Points
The $8.5 billion behemoth birthed by the merger of RILs Viacom18 and Walt Disneys Star India is set to redefine media, entertainment and sports in India..
Months after relinquishing her position on the board of Reliance Industries (RIL), Nita Ambani has taken on her first business role as the chairperson of the proposed Star IndiaViacom18 merged entity..
While Nita Ambani has been associated with sports, steering the ship for ventures like the IPL franchise Mumbai Indians and spearheading grassroots sports development through the Reliance Foundation (RF), her coronation as chairperson of the StarViacom18 juggernaut marks her grand debut into the glitzy world of media..
The company opted for a joint venture with Reliance to mitigate losses in the Indian market, even at the cost of a decline in valuation.. . Growing investor activism in the US after the share prices hit a nine-year low in August last year due to losses from the streaming business and declining profits from the TV business also forced Disney to hand over the reins of its India business to the countrys richest man...
After failing to conclude a deal with the second and third largest players, the Mukesh Ambanibacked company struck gold in its third attempt with the acquisition of market leader Star India, a treasured asset in Indias media industry..
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