Saturday, December 7, 2024
0

Become a member

Get the best offers and updates relating to Liberty Case News.

HomeBlogReliance Industries, Viacom18 and Disney complete merger: 100-plus channels, 3 CEOs and...

Reliance Industries, Viacom18 and Disney complete merger: 100-plus channels, 3 CEOs and 5 other biggest highlights of Rs 70,000 crore business – Times of India

Reliance Industries, Viacom18 and Disney complete merger: 100-plus channels, 3 CEOs and 5 other biggest highlights of Rs 70,000 crore business

India’s largest merger and acquisition deal in the media and entertainment (M&E) sector has concluded, with the merger of Viacom18’s TV and digital businesses into Star India securing all necessary regulatory approvals in India and abroad. In February, Reliance Industries (RIL), Viacom18 Media and The Walt Disney Company had signed an agreement to combine Viacom18 and Star India’s assets to create India’s largest M&E company, forming a powerful joint venture valued at over Rs 70,000 crore. This new entity is poised to become India’s largest media and entertainment company, generating an estimated annual revenue of Rs 26,000 crore. The combined entity will leverage the strengths of both Reliance and Disney to deliver a wide range of content across television and digital platforms. This includes popular TV channels like Star and Colors, as well as leading OTT platforms JioCinema and Hotstar.
It has received the mandatory regulatory clearances from NCLT and fair trade regulator Competition Commission of India (CCI). On August 27 this year, CCI approved the transaction subject to compliance with certain voluntary modifications offered by the parties.
The joint venture aims to provide Indian viewers with a diverse portfolio of entertainment, including movies, TV shows, and sports, at affordable prices. By capitalizing on India’s growing digital market, the company is well-positioned to compete with global giants like Amazon, Netflix, and SonyLiv.

7 Biggest highlights of the merger Rs 70,000 crore business

100-plus TV channels and more: The JV operates over 100 TV channels and produces 30,000-plus hours of TV entertainment content annually. Through its two OTT platforms, JioCinema and Hotstar, it will have an aggregate subscription base of over 50 million and will compete with Amazon, Netflix and SonyLiv.
JioStar.com website is live: The company’s new digital destination, JioStar.com, showcases the merger’s tagline “forging a new path to inspire a billion imaginations” and currently serves as the company’s webpage, rather than a streaming platform, as previously rumoured.
Leadership: Nita Ambani will assume the role of Chairperson, while Uday Shankar will serve as Vice-Chairperson, providing strategic guidance.
Who owns how much: Reliance Industries will hold a majority stake of 46.82%, followed by Disney with 36.84%, and Viacom18 with 16.34%.
Strategic partnerships: Reliance has acquired a 13.01% stake in Paramount Global, further strengthening its position in the global entertainment landscape.
Three CEOs at the helm: The JV will be spearheaded by three CEOs — Kevin Vaz, Kiran Mani and Sanjog Gupta — who will together lead the company. Kevin Vaz, who will head the entertainment business across platforms; Kiran Mani, who will take charge of the combined digital business; and Sanjog Gupta, who will lead the combined sports business.
Chairman speaks: “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. I am very excited about the JV’s future and wish it all the success,” he said.
Robert A Iger, CEO, The Walt Disney Company, said this is an exciting moment for our two companies. “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,” he said.

Source

#Reliance #Industries #Viacom18 #Disney #complete #merger #100plus #channels #CEOs #biggest #highlights #crore #business #Times #India