Reliance Industries Ltd (RIL) has officially completed its merger with Disney’s India assets, creating one of India’s largest media ventures valued at over Rs 70,000 crore (approx. $8.5 billion). The newly formed joint venture (JV) will operate with Nita Ambani as Chairperson and Uday Shankar as Vice-Chairperson, aiming to set new standards in the Indian media and entertainment sector.
The JV unites Viacom18’s media and JioCinema businesses with Disney’s Star India assets, forming a powerhouse with projected annual revenue of Rs 26,000 crore. Backed by RIL’s Rs 11,500 crore ($1.4 billion) investment, the entity positions itself as a leading force in India’s evolving media landscape.
- The JV will be organized into three major verticals, each spearheaded by experienced leaders:
- Kevin Vaz – Former Disney India executive, now oversees entertainment across platforms.
- Kiran Mani – Heads the digital vertical, focusing on streaming expansion.
- Sanjog Gupta – Leads the sports division, managing key sports properties in cricket, football, and more.
Together, these executives bring diverse expertise, ensuring the JV capitalizes on both content curation and digital delivery.
The JV integrates iconic brands like Star, Colors, JioCinema, and Hotstar, boasting over 100 TV channels and producing 30,000+ hours of content annually. Collectively, JioCinema and Hotstar support over 50 million subscribers. While both platforms currently operate independently, speculation suggests that sports streaming may consolidate under Hotstar.
The partnership aligns RIL’s local market insights with Disney’s global content and streaming capabilities, enhancing content for Indian and international audiences.
Post-merger, the JV is controlled primarily by RIL (16.34%) with major stakes held by Viacom18 (46.82%) and Disney (36.84%). Additionally, RIL acquired Paramount Global’s 13.01% stake in Viacom18 for Rs 4,286 crore, increasing RIL’s stake in Viacom18 to 70.49%.
Statements from Leadership Mukesh Ambani, RIL’s CMD, hailed the JV as a “transformational era” for India’s entertainment industry, emphasizing affordable content diversity for Indian consumers. Disney CEO Robert Iger expressed excitement over Disney’s expanding influence in India, underscoring the JV’s potential to enrich content offerings.
Credit: This article is based on information from official Reliance and Disney announcements and recent media reports.
Key Highlights:
- Reliance Industries Ltd (RIL) and Disney India complete a Rs 70,000 crore JV merger, creating a media giant.
- The JV will include Kevin Vaz, Kiran Mani, and Sanjog Gupta as vertical heads.
- The partnership integrates Star, Colors, JioCinema, and Hotstar for broad content reach in TV and streaming.