Disney & Reliance Complete $8.5B Deal To Form Indian Entertainment Giant
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deadline.comDisney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India. This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar, under one roof.
No name has been set for the joint venture just yet. The transaction is valued at ₹70,352 crore ($8.5B) on a post-money basis, excluding synergies.
Reliance will effectively be in control of the venture, owning 16.34% directly and another 46.82% through Viacom18, which is consolidated earlier this year.
Disney will have the remaining 36.84%. Reliance’s Nita M. Ambani will be the Chair of the JV, with Indian dealmaker and former Disney Indian boss Uday Shankar named Vice Chairperson to provide strategic guidance.
Read more on deadline.com
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