The highly anticipated merger between Reliance Industries Limited (RIL) and The Walt Disney Company has completed successfully and they introduced a joint venture to combine Reliance’s media and JioCinema with Disney’s Star India. The new venture will be offering diverse content across television and digital platforms. This article will offer the complete details of the new venture. So let’s get into the article to check out the full details.
Everything about Jio-Disney Merger
The new merger is making Reliance the largest player in the country as the new venture merges ‘Star’ and ‘Colours’ on television and ‘JioCinema’ and ‘Hotstar’ digitally. It has created a media ecosystem with over 100 TV channels and a 50-million-strong digital subscriber base. The new venture also enjoys rights to sports content, covering cricket, football, and other popular events.
Now let’s talk about the interesting factor and that is the name of the new venture. It will be dubbed Jiostar and Jiostar.com already went live. Stay tuned with us for more details including the subscription prices among others.
Regarding the financial terms, Reliance Industries has invested Rs 11,500 crore to support the venture’s growth and it is worth mentioning that the joint entity, valued at approximately Rs 70,352 crore. It is said that the ownership stakes has been divided among Reliance, Viacom18, and Disney. Speaking about the executives, Nita M. Ambani will lead as Chairperson, while Uday Shankar will serve as Vice Chairperson.
Having said that, the transaction received approvals from regulatory bodies, including the Competition Commission of India and anti-trust authorities in multiple countries, as per the reports. So the new venture has put Reliance Industries as a leader in the entertainment industry and we can expect affordable plans by the company to enjoy content online. Reliance has also strengthened its position by acquiring Paramount Global’s 13.01% share in Viacom18 which brings its total stake to 70.49%.
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