Disney, Reliance Complete $8.5 Billion Media Merger

Reliance Industries and Disney have finalized an $8.5 billion merger, creating a dominant media and entertainment joint venture in India. This new entity combines Disney's Star India with Reliance's JioCinema and Viacom18, controlling approximately 85% of the streaming market and half of the television viewership in the country. The joint venture, led by Nita Ambani as Chair and Uday Shankar as Vice Chair, is expected to generate annual revenues of around $3.1 billion while producing over 30,000 hours of content and operating more than 100 TV channels. Reliance has invested roughly $1.4 billion to support this venture, which will also manage significant sports media rights, including cricket and global events. The merger aims to enhance content delivery and affordability for Indian consumers, marking a transformative phase in the entertainment industry. With over 50 million streaming subscribers already, the venture is poised to reshape India's digital streaming landscape.