Walt Disney and Reliance Media merger, Nita Ambani will be the chairperson of the 70000 crore company

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image : Twitter



Reliance Industries Walt Disney Media Merger news | The merger of media operations of Walt Disney and Reliance Industries in India has been announced. According to a statement, Reliance will invest Rs 11,500 crore in the merged entity under this deal. The Walt Disney Company and Reliance Industries on Wednesday announced the merger of their media operations in India to create a conglomerate worth Rs 70,000 crore.


Nita Ambani will be the Chairperson

According to information, Disney and Reliance will also sign an agreement in this regard. Reliance will have 63.16 percent stake in the company. While Disney will get 36.84 percent participation. Nita Ambani will be made the chairperson of the joint venture formed from the media operations of the two companies. While Uday Shankar will be the Vice Chairman of this new company.

India's largest entertainment empire will be built

Reliance operates several TV channels, Jio streaming app through its media and entertainment unit Viacom 18. While Walt Disney has a Disney India venture in India under which Star India also comes. Who owns channels like Colors, Star Plus, Star Gold, Star Sports. The merger of Reliance Industries' media operations and Walt Disney's will create India's largest entertainment empire. It will compete with the joint venture of Zee Entertainment and Sony and streaming giants like Netflix and Amazon Prime.

 

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