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Thursday, February 29, 2024

Reliance and Disney be part of forces on $8.5 billion media big

Reliance, India’s high conglomerate, and The Walt Disney Firm, one of many world’s main leisure corporations, introduced a serious partnership in India.

The deal will merge the Reliance and Disney streaming and media property, creating an $8.5 billion leisure behemoth on the earth’s most populous nation.

Reliance HQ in Mumbai, India
Reliance HQ in Mumbai, India

Reliance will make investments $1.4 billion (INR 11,500 crore) to gas the expansion technique of the brand new three way partnership, whereas Disney will get entry to Indian cricket rights, one thing the US firm was pulling cash into for a number of years. The Reliance-Disney entity may have 120 TV channels and two streaming platforms, plus TV and streaming cricket rights for key tournaments within the nation the place the game is extremely fashionable.

In line with analysts quoted by Reuters, the mixed entity will create a sports activities behemoth in India. It would additionally give Reliance “nice bargaining energy” in the case of negotiating commercial contracts. Disney’s partnership with such an organization will give the US big a money cushion, mentioned Jinesh Joshi, an analyst.



The businesses valued the merged enterprise at $8.5 billion with out additional elaborating on how this quantity was calculated. The entity will likely be headed by Nita Ambani, spouse of Reliance proprietor Mukesh Ambani, who can be the richest man in Asia. Uday Shankar, former Chairman of Walt Disney India, will function Ambani’s vice chair.

Reliance and Disney anticipate to succeed in over 750 million viewers throughout India and the Indian diaspora globally. Disney CEO Bob Iger mentioned that “Reliance has a deep understanding of the Indian market and client,” and the deal would enable the US firm to “higher serve shoppers with a broad portfolio of digital companies and leisure and sports activities”.

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