Reliance, Disney, and Viacom18 Join Forces in Major Media Merger
Reliance Industries, Viacom18 Media, and The Walt Disney Company have announced the merger of Viacom18’s media and JioCinema businesses with Star India. This merger, approved by various regulatory bodies, marks a significant development in India’s entertainment industry.
Reliance Industries has invested Rs 11,500 crore into the joint venture, valuing it at Rs 70,352 crore. The ownership structure includes 16.34% by Reliance, 46.82% by Viacom18, and 36.84% by Disney. Nita M Ambani will serve as Chairperson, with Uday Shankar as Vice Chairperson.
The joint venture will offer a wide range of content across TV and digital platforms, combining popular brands like ‘Star’, ‘Colors’, ‘JioCinema’, and ‘Hotstar’. It aims to provide affordable and diverse entertainment options to Indian and global audiences.
The venture is set to become one of India’s largest media companies, with a combined revenue of approximately Rs 26,000 crore for the fiscal year ending March 2024. It operates over 100 TV channels and produces over 30,000 hours of content annually, with a digital subscription base exceeding 50 million.
Key figures like Mukesh D Ambani and Robert A. Iger have expressed excitement about the merger’s potential to transform the media landscape. The joint venture will be led by CEOs Kevin Vaz, Kiran Mani, and Sanjog Gupta, who will drive innovation and growth.
Additionally, Reliance Industries has acquired Paramount Global’s 13.01% stake in Viacom18, increasing its ownership to 70.49%.
Doubts Revealed
Reliance Industries -: Reliance Industries is a big company in India that does many things like making oil, running stores, and providing mobile services. It is owned by Mukesh Ambani, one of the richest people in India.
Viacom18 -: Viacom18 is a company in India that makes and shows TV programs and movies. It is a joint venture between TV18, which is part of Reliance, and ViacomCBS, a big media company from the USA.
Disney -: Disney is a famous company from the USA known for making movies, TV shows, and theme parks. They own popular characters like Mickey Mouse and have channels like Disney Channel.
JioCinema -: JioCinema is an app where people can watch movies and TV shows on their phones or computers. It is part of Reliance Jio, which is a mobile network company in India.
Star India -: Star India is a big TV network in India that shows many popular TV channels and programs. It is owned by Disney and has channels like Star Plus and Star Sports.
Nita M Ambani -: Nita M Ambani is the wife of Mukesh Ambani and is involved in many activities like running schools and sports teams. She is also part of the leadership in Reliance Industries.
Uday Shankar -: Uday Shankar is a well-known person in the media industry in India. He has worked with big companies like Star India and is now part of the new media venture with Reliance.
Paramount -: Paramount is a big company from the USA that makes movies and TV shows. They used to have a stake in Viacom18, which means they owned a part of it.
