Reliance may sign non-binding pact with Disney Star to explore India entertainment biz merger

New Delhi: Billionaire Mukesh Ambani-led Reliance is expected to sign a non-binding agreement with Disney-Star for the merger of the India business of the global entertainment major, according to industry sources.

This will be a combination of cash and stock deal, in which India’s most valuable company would infuse money to have a majority 51 per cent stake in the merged entity, they said.

While, Disney-Star, whose India business consists of a linear network of Star India and other channels and the OTT platform Disney+ Hotstar, would have a minority stake.