look news india
Reliance Industries Walt Disney Media merger news : The merger of the media operations of Walt Disney and Reliance Industries in India has been announced. According to a statement, under this deal, Reliance will invest Rs 11,500 crore in the entity formed after the merger. Walt Disney Co and Reliance Industries on Wednesday announced the merger of their media operations in India to create a Rs 70,000 crore conglomerate.
Nita Ambani will be the chairperson
According to the information, Disney and Reliance will also sign an agreement in this regard. Reliance will have 63.16 percent stake in the company. Whereas Disney will get 36.84 percent participation. Nita Ambani will be made the chairperson of the joint venture to be formed from the media operations of both the companies. Whereas Uday Shankar will be the vice chairman of this new company.
India's largest entertainment empire will be created
Reliance operates several TV channels, Jio streaming app through its media and entertainment unit Viacom 18. Whereas Walt Disney has Disney India venture in India which also includes Star India. Who owns channels like Colors, Star Plus, Star Gold, Star Sports. The merger of the media operations of Reliance Industries and Walt Disney will create India's largest entertainment empire. It will compete with the joint venture between Zee Entertainment and Sony and streaming giants like Netflix and Amazon Prime.