News > Reliance Industries and Walt Disney to merge Viacom18 with Star India in $8.5bn deal
Reliance Industries and Walt Disney to merge Viacom18 with Star India in $8.5bn deal
29/02/2024 11:19 AM | Click to read full article
The deal strengthens Reliance’s hold over the country’s $28-billion media and entertainment industry and creates a behemoth with 120 TV channels and two digital OTT platforms. Reliance, along with Viacom18, will own 63% in the merged entity, while Disney will hold the remaining 37%. Reliance will infuse $1.4 billion in the merged company to finance its growth plans and consequently, the transaction will value the new entity at $8.5 billion.
