Reliance Jio and Disney have completed their joint venture after receiving approval from NCLT Mumbai, CCI, and Star India Private Limited (SIPL).
The transaction is worth Rs 70,352 crore (USD 8.5 billion). This merger creates one of the largest media entities in India.
Reliance has invested Rs 11,500 crore to support the JV's growth. Reliance holds 16.34%, Viacom18 owns 46.82%, and Disney controls 36.84%. Reliance will be the controlling company.
The JV is set to be led by Nita Ambani as chairperson and Uday Shankar as Vice Chairperson for strategic guidance. It will be managed by three CEOs: Kevin Vaz for entertainment, Kiran Mani for the digital organization, and Sanjog Gupta for sports.
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This JV will operate over 100 TV channels and include two major OTT platforms, Disney+ Hotstar & JioCinema, making it a dominant force in the Indian media industry.