Brief by Shorts91 Newsdesk / 03:29pm on 28 Feb 2024,Wednesday Business
Reliance Industries, Walt Disney Co, and Viacom18 Media Pvt Ltd have officially inked agreements to merge their Indian media operations, creating a colossal Rs 70,000 crore entity. In this joint venture, Viacom18's media assets will integrate into Star India Pvt Ltd, with Reliance holding a dominating 63.16% stake, while Disney will have the remaining 36.84%. Reliance's investment of Rs 11,500 crore will bolster the venture's OTT business. The collaboration aims to become a major force in TV and digital streaming, boasting over 750 million viewers, promising diverse content and an innovative digital entertainment experience at affordable prices.
