RIL, Viacom18 and Disney complete merger to create a Rs 70,352 cr JV
Reliance Industries Limited, Viacom18 Media Private Limited, and The Walt Disney Company announced on Thursday that the merger of Viacom18's media and JioCinema businesses into Star India Private Limited (SIPL) is now officially effective.
The transaction values the joint venture at Rs 70,352 crore (~US$ 8.5 billion) on a post-money basis, excluding synergies. At the closing of the transactions, the JV is controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.
The JV will be led by Nita M. Ambani, Chairperson, and Uday Shankar, Vice Chairperson, who will offer strategic guidance.
This merger brings together some of India’s most recognized media brands, including ‘Star’ and ‘Colors’ in television, and digital platforms such as ‘JioCinema’ and ‘Hotstar’. The aim is to provide diverse content across entertainment and sports for audiences both in India and internationally.
This joint venture (JV) follows approvals from regulatory authorities including the National Company Law Tribunal (NCLT) in Mumbai, the Competition Commission of India (CCI), and global anti-trust bodies from the EU, China, Turkey, South Korea, and Ukraine.
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