Reliance and Disney finalize JV valued at Rs 70,352 crore in India

Reliance Industries Limited (RIL), Viacom18, and Disney have successfully completed the merger of Viacom18’s media and JioCinema businesses with Star India, forming a new joint venture (JV) in India’s rapidly evolving entertainment landscape. The transaction, finalized on November 14, follows approvals from the NCLT Mumbai, Competition Commission of India, and other regulatory bodies.

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RIL has invested Rs 11,500 crore as growth capital for the JV, which is valued at Rs 70,352 crore, excluding synergies. The JV will be controlled by RIL, which holds a 16.34% stake, while Viacom18 owns 46.82% and Disney holds 36.84%. A leadership team of three CEOs will guide the JV: Kevin Vaz will oversee the entertainment division, Kiran Mani will manage the digital arm, and Sanjog Gupta will lead the sports division.

Nita Ambani will serve as Chairperson, with Uday Shankar as Vice Chairperson providing strategic guidance. Mukesh D. Ambani, Chairman of RIL, highlighted the JV’s potential to transform India’s media sector, combining Disney’s creative strengths with RIL’s deep market understanding.

The JV encompasses over 100 TV channels and produces 30,000+ hours of content annually. It also boasts a combined subscriber base of over 50 million for JioCinema and Hotstar.

Robert A. Iger, CEO of Disney, reportedly emphasized the opportunity to strengthen their presence in India, delivering a richer content offering across entertainment, sports, and digital platforms.