Reliance joins Disney to form India’s biggest media company

Reliance Industries Limited (RIL) has recently announced a strategic partnership with Walt Disney Co. to form a joint venture (JV) that is expected to be highly beneficial for RIL. 

According to a report by Jefferies, the JV will combine RIL’s Viacom18 with Disney’s Star India, creating India’s largest media empire.  

This collaboration is expected to cover a wide range of media offerings, including television broadcasting, streaming services, movie production, and sports broadcasting. 

Jefferies analysts believe that the JV is in a strong position to dominate the country’s cricket broadcasting rights, as it holds a significant 40% of the Indian advertising market share. 

RIL will infuse an investment of Rs 11,500 crore ($1.4 billion) in the venture. Post-money, the venture is valued at Rs 70,352 crore ($8.5 billion).  

RIL will own a 16.34% stake in the JV, while its subsidiary Viacom18 will own 46.82%, and Disney will hold the remaining 36.84% stake.  

The JV will be led by Nita Ambani, Chairperson of Reliance Industries. Additionally, former Walt Disney executive Uday Shankar will serve as Vice Chairperson. 

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