Reliance, Disney start antitrust diligence on India media merger

New Delhi: Indian billionaire Mukesh Ambani’s Reliance Industries and Walt Disney have appointed law firms and started antitrust due diligence of their planned Indian media and entertainment merger, four people familiar with the matter said.

Reliance has appointed Indian law firm Khaitan Co and Shardul Amarchand Mangaldas, while Disney has roped in AZB Partners, the people said.

The appointments are the latest sign of progress as Reliance and Disney, which each have a major streaming service as well as 120 television channels between them, look at merging into an entity to create an entertainment superpower in the world’s most populous nation. Ambani’s group is expected to have a majority stake in the entity.