June 24, 2025 02:22 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
US to screen social media accounts of student, scholar visa applicants | Bengaluru woman sexually assaulted, thrashed by group of men; incident caught on CCTV | Teen girl dies in bomb blast during Kaliganj bypoll vote count in Bengal, BJP says 'blood price of Mamata's vote bank politics' | Bypoll results: AAP bags 2 seats across Guj and Punjab, BJP wins one in Modi's backyard, Cong wins in Kerala, TMC shines in Bengal | Chaos inside Bengal assembly, four BJP MLAs including chief whip Shankar Ghosh suspended | Iran targets Israel, Tel Aviv strikes Tehran as Middle East conflict escalates | 'Zionist enemy made grave mistake, it is being punished right now': Ayatollah Khamenei's first remark after US strike | 'Bullseye': Trump claims 'monumental damage' to Iranian nuclear sites; experts differ | DGCA orders termination of three Air India officials over safety lapses | Nitish Kumar announces big hike in pension under social security scheme ahead of Bihar polls
Reliance, Viacom 18, Walt Disney JV is valued at Rs 70,352 cr. (Image: Pixabay)

Reliance, Viacom 18, Walt Disney complete merger, creating India’s largest integrated media platform

| @indiablooms | Nov 15, 2024, at 05:30 am

Mumbai: Reliance Industries Limited (RIL), Viacom18 Media Private Limited, and The Walt Disney Company announced on Thursday the official completion of their merger, which combines Viacom18’s media and JioCinema businesses with Star India Private Limited (SIPL), media reports said.

This joint venture (JV) is valued at approximately Rs 70,352 crore (~US$8.5 billion) post-money, excluding synergy benefits, reported The Economic Times.

The ownership structure of the JV stands as 16.34% by RIL, 46.82% by Viacom18, and 36.84% by Disney, with RIL retaining control.

The JV’s strategic leadership will be spearheaded by Chairperson Nita M. Ambani and Vice Chairperson Uday Shankar, aiming to enhance entertainment and sports content offerings for audiences in India and globally.

Major brands such as ‘Star’ and ‘Colors’ in television, as well as digital platforms ‘JioCinema’ and ‘Hotstar’, are now part of the combined entity, which will produce over 30,000 hours of content yearly across 100+ channels.

The JV’s digital presence through JioCinema and Hotstar already has over 50 million subscribers and includes a valuable portfolio of sports rights, covering major cricket and football events.

Regulatory approvals for the merger were obtained from the National Company Law Tribunal (NCLT) in Mumbai, the Competition Commission of India (CCI), and anti-trust bodies across regions including the EU, China, Turkey, South Korea, and Ukraine. For FY24, the combined entity’s pro forma revenue is projected to reach around Rs 26,000 crore.

Operationally, the JV will be structured under three CEOs overseeing specific verticals: Kevin Vaz for entertainment, Kiran Mani for digital, and Sanjog Gupta for sports.

RIL Chairman Mukesh D. Ambani praised the merger as a turning point in Indian media: “With the formation of this JV, the Indian media and entertainment industry is entering a transformational era. 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."

Disney CEO Robert A. Iger expressed optimism about the venture, noting, “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."

Separately, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for Rs 4,286 crore.

Post-acquisition, Viacom18’s ownership structure is now 70.49% by RIL, 13.54% by Network18 Media & Investments Ltd., and 15.97% by Bodhi Tree Systems.

Uday Shankar, Co-Founder of Bodhi Tree Systems, commented on the partnership: “James and I are excited to be partners in this journey to disrupt the media and entertainment industry in India... The merger of Viacom18 and Star India offers a unique opportunity to reorient the industry to better serve diverse cohorts of consumers across the country.”

The merged entity now stands as India’s largest integrated media platform, set to deliver a comprehensive and innovative content experience across television and digital mediums.  

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu