Reliance Industries Limited (RIL) and Walt Disney Co have reportedly signed a pact to merge their media operations in India. Under the agreement, Reliance and its affiliates are set to own a minimum of 61% in the combined entity, with Disney having the remaining stake.
Disney has also agreed to sell 61% of its India business to Viacom 18 for approximately $3.9 billion. This move is anticipated to have a significant impact on the Indian media and entertainment industry.
Previously, Sony of Japan’s merger plan with Zee Entertainment fell through due to disagreements over leadership.
Disney has made previous attempts to establish a presence in India through various alliances. However, investor interest in Disney’s India business waned in 2022 after losing online streaming rights for the IPL tournament.
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