Reliance, Disney to sign off on India media merger next week

Walt Disney Co. and Reliance Industries Ltd., led by Asia’s richest tycoon Mukesh Ambani, are expected to sign a non-binding pact as early as Monday to merge their media operations in India in a cash-and-stock deal, according to people familiar with the matter. Ambani’s retail-to-refining conglomerate will infuse money to hold at least 51% of the merged entity if the deal goes through, the people said, asking not to be named as the information is not public. Disney will hold the rest, they added, in what will be one of the largest media behemoths in India.