Media Giants Unite: Reliance and Disney Forge Mega Joint Venture

Reliance Industries and Walt Disney have merged their media assets to form a joint venture worth Rs 70,352 crore. Chaired by Nita Ambani, this venture will be a significant force in India's media sector. Reliance, Viacom18, and Disney hold stakes, and it will focus on TV and digital platforms.

In a groundbreaking move, Reliance Industries has merged its media assets with Walt Disney's India business to create a joint venture valued at an impressive Rs 70,352 crore. This merger marks a significant chapter in India's media landscape.

Nita Ambani will lead the joint venture as Chairperson, with Uday Shankar serving as Vice Chairperson for strategic guidance. Reliance holds a notable 16.34% stake in the venture, which promises to revolutionize content delivery across various platforms.

With over 100 TV channels and a strong digital presence, the venture aims to deliver diverse entertainment options. RIL's Mukesh Ambani highlighted the venture's strategic vision, emphasizing its commitment to offering exceptional content at affordable prices.

(With inputs from agencies.)