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8 hours ago
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Disney and Reliance Industries have completed the deal to form a media and entertainment giant in India.
This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar, under one roof. No name has been set for the joint venture just yet.
Reliance’s Nita M. Ambani will be the Chair of the JV, with Indian dealmaker and former Disney Indian boss Uday Shankar named Vice Chairperson to provide strategic guidance.
According to the partners, the new biz will be one of the largest media and entertainment companies in India with pro forma combined revenues of approximately ₹26,000 crore ($3.1 billion) for the fiscal year ended in March 2024. It will operates over 100 TV channels and produce more than 30,000 hours of TV entertainment content annually, while the JioCinema and Hotstar streaming platforms have an aggregate subscription base of over 50 million. It will own most of Indian cricket rights, along with football and other sports.
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