Reliance Industries has agreed to buy Paramount Global’s entire 13.01% stake in local entertainment network Viacom 18 Media for approximately Rs. 4,286 crore, RIL said in a regulatory filing. “A binding agreement has been entered between Reliance and two subsidiaries of Paramount Global to acquire 13.01% equity stake (on a fully diluted basis) of Viacom …
Walt Disney CEO Bob Iger believes the joint venture with Mukesh Ambani’s Reliance Industries Limited (RIL) will enhance the company’s bottom line and reduce risk in the Indian market. Iger also said that the JV deal will allow Disney to own a significant stake in a larger media entity and also maintain a presence in …
The proposed merger between Reliance Industries-owned Viacom18 and Walt Disney’s Star India is likely to go through greater scrutiny by the Competition Commission of India (CCI) given the impact it could have on the media & entertainment sector, legal experts said. The anti-monopoly watchdog might look at the combined market share of the proposed merged …
Walt Disney is expected to record non-cash pre-tax impairment charges of $1.8 billion to $2.4 billion for the quarter ending March 31, mainly due to Star India’s net asset and goodwill write-down at the entertainment linear network’s reporting unit due to the removal of the company. The impairment charges pertain to the merger deal signed …
NEW DELHI: The Walt Disney Co. announced Wednesday a joint venture with India’s biggest conglomerate, Reliance Industries, in an $8.5 billion deal that will create a media powerhouse in the world’s most populous nation and end Disney’s decadeslong solo effort to gain a foothold in the market. Reliance Industries, which is owned by Mukesh Ambani, …
Nita Ambani, wife of Indian billionaire Mukesh Ambani, is likely to be appointed chair of the board when Reliance Industries and Walt Disney merge their India media assets, two sources familiar with the plans said. Reliance, controlled by the Ambani family, and Disney are closing in on signing their India media merger deal which has …
Walt Disney Co. and Reliance Industries Ltd. have signed a binding pact to merge their media operations in India, according to people familiar with the matter, as the US entertainment giant recasts its strategy amid intense competition in the world’s most-populous country. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates …
Zee Entertainment Enterprises has accused Walt Disney-owned Star India of violating the ICC TV rights agreement and has sought a refund of Rs 69 crore paid as part of the agreement. Zee asserted in its Q3 financial statements that it has strong grounds to counter Star India’s claims in the ICC TV rights agreement matter. …
Fox Corp, Walt Disney’s ESPN and Warner Bros Discovery said on Tuesday they will launch a sports streaming service later this autumn to capture younger viewers who are not tuned in to television. The media companies will form a joint venture to create a new service from their broad portfolio of professional and collegiate sports …
Zee Entertainment Enterprises Ltd. has missed a deadline to pay $200 million to Walt Disney Co.’s India unit for TV rights of cricket matches, according to people familiar with the matter, as the firm tries to preserve cash ahead of a likely collapse of its mega merger with Sony Group Corp. The Mumbai-based media firm …