Disney-Reliance: How media landscape will change with mega merger

Billionaire Mukesh Ambani is known for thinking big and acting fast. On Wednesday, the Ambani-led Reliance Industries (RIL) indicated that it was keen to dominate India’s media and entertainment industry like it has other sectors by announcing that it was forming a joint venture with The Walt Disney Company through the merger of Viacom18 and Star India.

RIL will own 16.34% in the JV; Viacom18 will own 46.82% and Disney will 36.84% in the JV. RIL will also infuse $1.4 billion (Rs 11,500 crore) for future growth. The deal was completed in a record two months. According to industry sources, the non-binding agreement between Disney and Reliance was signed towards the end of December.