Key Points
Mukesh Ambani-led Reliance Industries Limited, entertainment giant Disney along with Viacom18 announced the merger of the media and JioCinema businesses of Viacom18 into Star India Private Limited following approvals from the NCLT Mumbai, Competition Commission of India, and other regulatory bodies..
Reliance Industries Limited (RIL) has injected Rs 11,500 crore into the joint venture to support its expansion..
As part of the agreement, the joint venture has issued shares to Viacom18 and RIL in exchange for assets and cash, respectively...
RIL Chairman Mukesh D. Ambani said the merger as a game-changer for the Indian entertainment industry..
Our deep creative expertise and relationship with Disney, along with our unmatched understanding of the Indian consumer will ensure unparalleled content choices at affordable prices for Indian viewers," Ambani said.. Disney CEO Robert A. Iger said: By joining forces with Reliance, we are able to expand our presence in this important media market and deliver viewers an even more robust portfolio of entertainment, sports content, and digital services..
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