Reliance, Disney, Viacom18 Form Media Joint Venture

Reliance Industries Limited (RIL), Viacom18 Media, and The Walt Disney Company have completed the merger of Viacom18's media and JioCinema businesses into Star India Private Limited, forming a joint venture (JV) valued at ₹70,352 crore (~US$ 8.5 billion). RIL has invested ₹11,500 crore (~US$ 1.4 billion) to support the JV, which will be chaired by Nita Ambani with Uday Shankar as Vice Chairperson. The JV combines popular brands including Star, Colors, JioCinema, and Hotstar, aiming to deliver a wide range of entertainment and sports content to a global audience. With over 100 TV channels and an annual production of more than 30,000 hours of content, it is projected to generate approximately ₹26,000 crore (~US$ 3.1 billion) in revenue for FY2024. This merger is seen as a transformative moment for India's media industry, enhancing content accessibility for viewers both domestically and in the diaspora. Mukesh Ambani expressed confidence that the JV's creative expertise and partnership with Disney will lead to unparalleled content choices at affordable prices.