On Wednesday, a definitive agreement worth $8.5 billion was cemented between the Walt Disney Company and Reliance Industries Ltd. of India. The deal entails the fusion of the individual digital streaming and television assets owned by both ventures.
The concord stated that Viacom18 would be incorporated into Star India Private Ltd., thus yielding a viewer base exceeding 750 million across India.
The ownership of the merged entity would be split as follows: Reliance possessing a 16.34% stake, Viacom18 with 46.82%, and Disney holding 36.84%. Consequently, the entity will hold exclusive distribution rights to all Disney films and productions in the Indian market.
According to Bob Iger, CEO of The Walt Disney Company, the understanding shared by Reliance of the Indian market and its consumers is in-depth. The partnership, he believes, will birth one of India's top media companies, enabling wider reach of digital services and diverse entertainment and sports content.
The finalization of the transaction is anticipated either in the last quarter of 2024 or the initial quarter of 2025.
