We already reported on several occasions that Reliance is planning to purchase the India division of Disney and today we got clarity about the matter the new deal will bring the major entertainment ecosystem of India under 1 umbrella and the brands planning to transform the entertainment of India. So let’s get into the article to check out the new information.
It is officially announced that Reliance and Disney will now offer a new joint venture in the entertainment industry of the country. The new partnership will unite Star TV Network, Sports18 TV, Hotstar, and JioCinema under one umbrella.
Moreover, Reliance will be holding a majority stake in the partnership, and the collaboration is targeting to transform the country’s digital entertainment segment.
The new deal will also eliminate the chance to leave Disney from India. It is also revealed that the collaboration of the two parties is valued at Rs 70,000 crores. Viacom18, a subsidiary of Reliance, will have a 46.82% stake in the partnership, with Reliance Industries having 16.34% and Disney having a 36.84% stake, respectively.
We need to learn many things like whether all content will be showcased in a new platform or Reliance will merge everything to Jiocinema. Let’s wait for all the major updates about the new joint venture of the brands. We recommend you to stick with us for more updates from the world of technology.
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