Disney Set to Merge Media Assets with ₹70,352 Crore Giant Reliance Industries — Just Not in India
This merger sets a new pace. It may take over India's entertainment landscape in 2025 and the years to come. This ₹11,500 crore cash infusion will amp up JioCinema and Hotstar. (
MUMBAI, India — Winds of change swept over the media landscape in India, as Disney and Reliance Industries struck a deal on Nov. 14, 2024, to merge their respective media assets into an entertainment behemoth worth ₹70,352 crore ($8.5 billion). The joint venture combines Viacom18 and Star India operations. It came after months of negotiations and regulatory approvals. The merger took place in India’s crowded media landscape. Why? To create a leading player in TV and streaming.
Someone New at the Top of Indian Entertainment
This Disney Reliance merger represents a significant victory for both companies. JioCinema, a platform under billionaire Mukesh Ambani’s Reliance Industries. Disney also includes its Star India TV networks and Hotstar streaming Combined, they create a behemoth with more than 100 television channels and two behemoth digital services. The accord was finalized following approval from India’s Competition Commission and the National Company Law Tribunal. A ₹70,352 package, excluding add-ons, this amounts to
The structure of the 352 crore venture is a straightforward one. Reliance owns a 16.34% stake in it. Its unit, Viacom18, owns 46.82%. Disney owns the rest, 36.84%. Reliance also invested ₹11,500 crore ($1.4 billion) to drive growth. The focus? It’s a helping hand for the over-the-top (OTT) business. That will mean more movies, shows and sports for viewers across India.
How It Came Together
A Long Road to a Big Deal
Talks started years ago. In December 2023, Disney and Reliance entered a non-binding term sheet. They finalized the deal on Feb. 28, 2024. The target was a merger by late 2024 or early 2025. They hit that mark. Approvals came through in August and October 2024, but regulatory hurdles had delayed things. Now, it’s official.
Key Players Step Up
The new venture is chaired by Nita M. Ambani. She’s the spouse of Mukesh Ambani and runs the Reliance Foundation. Uday Shankar, its former Disney executive, is the vice chairperson. He’ll guide strategy. “We cannot wait to shake up India’s media industry,” Shankar said in a statement on Nov. 14, 2024. “This merger presents a unique opportunity to cater to all types of viewers.” The board has 10 members, five picked by Reliance and three by Disney.
Why This Matters Now
This isn’t just about size. It’s about reach. The joint venture has an audience of over 750 million viewers domestically and internationally. It owns rights to major sports such as the Indian Premier League (IPL) cricket tournament. That’s currency in a cricket-mad country. It also has more than 50 million digital subscribers through JioCinema and Hotstar. Together, the two platforms brought in roughly ₹26,000 crore ($3.1 billion) last year.
(2022) Disney’s Hotstar suffered a blow. Reliance secured IPL streaming rights for $2.9 billion, it said free on JioCinema. 23 million users gone in months: Hotstar This merger fights back. It marries Disney’s global content with Reliance’s local expertise. Some type of low key starplus type drama + all the marvel movies. It is a bold move in a competitive landscape with rivals like Sony and Netflix.
The Bigger Picture
Now There’s Media Commentary From Reliance Its biggest business is oil, and it also has major interests in retail and telecom. Disney’s also operated in India through Star since 1993. As part of the 21st Century Fox deal, it acquired Hotstar and Star TV in 2019 for $71 billion. But India’s streaming wars did damage to Disney. This merger allows it to remain in the game with lower risk.
Analysts see a shift. For this deal, Disney wrote off between $1.8 billion and $2.4 billion in losses from Star India. That’s a step back from its former $15 billion valuation in 2018. Reliance’s deal making turned the compare upside down. Now it is at the helm of a venture that could transform how Indians watch TV and consume online streaming. It’s a force with muscle to expand.
What’s Ahead for the Entertainment Powerhouse?
This merger sets a new pace. It may take over India’s entertainment landscape in 2025 and the years to come. This ₹11,500 crore cash infusion will amp up JioCinema and Hotstar. (more sports, movies and shows on the way.) It might even be able to tap the Indian diaspora across the globe. But challenges loom. There’s no measuring forces: Sony and Netflix won’t back down. The eyes of regulators will remain keen.
The success of the endeavor will depend on execution. Can it keep the content fresh and the prices low? Will viewers stick around? If it succeeds, it would drive India’s digital transition. If not, it’s a costly lesson. Either way, the game has changed. Now India’s media future begins.