Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the world’s most populous nation. Reliance, which will control the joint venture, directly owns 16.34% of the merged entity, which it has valued at $8.5 billion. Disney will own a 36.84% stake in the merged entity, …
Nita Ambani, founder and chairperson of Reliance Foundation, is likely to become the chairperson of Star India-Viacom18 merged entity, while Bodhi Tree promoter Uday Shankar could be named the vice chairperson, people privy to the development told ET. Ambani has been deeply involved in Reliance’s sports initiatives including the Indian Premier League team, Mumbai Indians, …
Reliance continues to be in talks with Disney India to merge the American entertainment giant’s local businesses with Viacom18, with the Ambani-led company likely pick up atleast a 50% stake in the merged entity. The latest agreement between Disney India, Viacom18 and Bodhi Tree will likely see Disney retain 40% of the merged business, with …
Mumbai: Reliance Industries Ltd (RIL) and Walt Disney Co. are finalising details of a non-binding term sheet to move ahead with plans to merge their India media and entertainment operations, said executives involved in the matter. The deal is likely to give the Mukesh Ambani-led group a controlling stake in what will become the country’s …
Paramount Global has realised non-cash gain of $168 million for the quarter ended June from dilution of its stake in Indian media conglomerate Viacom18, the company said in its quarterly regulatory filing recently. In April, the company’s stake in Viacom18 dropped to 13% from 49% following a strategic transaction that saw Reliance Industries Limited (RIL) …