Brief by Shorts91 Newsdesk / 12:51pm on 25 Dec 2023,Monday Business
Reliance Industries and Walt Disney plan to merge their Indian media operations in a deal that could form one of India's biggest entertainment giants. As per reports, Reliance will hold 51%, with Disney at 49%, giving Mukesh Ambani's group substantial control. The merger aims for completion by February, pending regulatory nods, with Reliance eyeing January's end. This move intensifies competition with TV giants Zee and Sony, plus streaming services like Netflix. Reliance's strategic streaming of IPL cricket matches challenges Disney's Hotstar. The $1-1.5 billion investment may reshape India's media landscape, with a shared board of directors.
