Reliance Industries Limited (RIL), Viacom 18 Media Private Limited, and The Walt Disney Company have announced a groundbreaking partnership that is set to reshape India’s media and entertainment landscape. This strategic joint venture will merge the digital streaming and television assets of Viacom18 and Star India, creating a formidable powerhouse valued at approximately $8.5 billion.
As part of the agreement, RIL will invest ₹11,500 crore (approximately $1.4 billion) into the joint venture to support its growth strategy. RIL will have majority control, owning over 63% of the combined entity, while Viacom18 will hold around 46.82%, and Disney will own the remaining 36.84%.
This collaboration brings together renowned media brands across entertainment and sports, including popular channels like Colors, StarPlus, and StarGOLD, as well as leading sports networks like Star Sports and Sports18. The joint venture will also have access to highly anticipated events through JioCinema and Hotstar, both on television and digital platforms.
With a collective reach of over 750 million viewers in India and the Indian diaspora worldwide, the joint venture aims to lead the digital transformation of India’s media and entertainment industry. By leveraging the expertise, technology, and diverse content libraries of both Viacom18 and Star India, the entity will offer high-quality, comprehensive content across various genres, including entertainment and sports.
This partnership also grants exclusive rights to distribute Disney films and productions in India, enhancing the extensive content portfolio available to consumers. It reflects Disney’s commitment to better serving the Indian market and delivering a wide range of digital services and entertainment options.
Mrs. Nita M. Ambani, Chairperson of the joint venture, expressed her enthusiasm about the agreement, highlighting the potential to deliver unparalleled content experiences to audiences across India. Bob Iger, CEO of The Walt Disney Company, echoed this sentiment, emphasizing RIL’s deep understanding of the Indian market and consumer preferences.
The transaction is subject to regulatory and shareholder approvals and is expected to be completed by the last quarter of 2024 or the first quarter of 2025. With this collaboration, the partners aim to shape the future of entertainment in India, providing innovative and accessible digital-focused experiences to audiences domestically and globally.
