Walt Disney and Reliance Get Green Light for $8.5B Indian Media Merger

Walt Disney Co and Reliance Industries have gained regulatory approval for an $8.5 billion merger of their Indian media assets. The merger will create the largest entertainment company in India, combining assets such as television channels, sports rights, and streaming services. The merged entity will dominate Indian media landscapes.

(Updates paragraph 1 to reflect regulatory approval on the merger) MUMBAI, Aug 28 (Reuters) -

Walt Disney Co and Reliance Industries have received crucial regulatory approval for an $8.5 billion merger of their Indian media assets, setting the stage for the creation of India's largest entertainment conglomerate. Here's a detailed look at their combined assets, including key sports rights:

TELEVISION * Viacom18, with majority ownership by Reliance, boasts 40 television channels such as Comedy Central, Nickelodeon, and MTV. * Disney Star, a ubiquitous brand in Indian households, operates around 80 channels known for Hindi family dramas and Hollywood films. Viacom18 holds TV rights for domestic and international cricket sanctioned by the Board of Control for Cricket in India, while Disney has TV rights for the Indian Premier League (IPL) until 2027.

* Both conglomerates offer channels specializing in general entertainment, sports, children's TV, documentaries, lifestyle content, and regional language programming.

STREAMING * Disney holds the digital rights for International Cricket Council matches in India until 2027, and Reliance's JioCinema has streaming rights for IPL until 2027 after outbidding Disney. * The fusion of Reliance's JioCinema and Disney's Hotstar offers a massive content library exceeding 200,000 hours, covering TV dramas, movies, and sports. * Disney's Hotstar was 2022's second-most downloaded video app in India after MX Player, per a report by the Federation of Indian Chambers of Commerce and Industry and EY. The app's content features global hits, Marvel universe films, and National Geographic documentaries. It streamed seven of the top 15 original shows in India last year, as reported by media consulting firm Ormax. * JioCinema secured a deal with The Pokemon Company to stream its content and another agreement with Warner Bros to introduce more Hollywood and international material to its platform.

(With inputs from agencies.)