New Delhi: Walt Disney and Reliance Industries have joined forces through a recently signed non-binding term sheet. The agreement outlines that Reliance will retain a 51 percent stake, while Disney will hold a 49 percent share in this alliance. Notably, discussions regarding this merger had been underway in London.
The successful conclusion of this merger will firmly establish the unified entity as Bharat’s foremost media and entertainment company. The merger is scheduled to be finalised by February 2024.
As part of the merger plan, a separate unit will be established under Viacom18’s umbrella to oversee the operations of Disney Star, formerly known as Star India. Currently under the ownership of Reliance Industries, Viacom18 boasts a portfolio of 18 channels. Meanwhile, talks are underway between both companies for the implementation of an additional project, entailing a capital investment of Rs 150 crore.
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