Disney, Reliance Sign $8.5 Billion Deal to Merge India Media Operations ...Middle East

Time - News
Disney, Reliance Sign $8.5 Billion Deal to Merge India Media Operations
source : Time ( Middle East ) () 25
Walt Disney Co. and billionaire Mukesh Ambani’s conglomerate have signed a binding pact to merge their media operations in India, creating a sector behemoth valued at $8.5 billion in one of the world’s fastest-growing entertainment markets. The US media company will control 36.84%, while Ambani-led Reliance Industries Ltd. will own 16.34% in the joint venture, according to a Reliance statement on Wednesday. Viacom18 Media Pvt. Ltd. will control the remaining 46.82%. [time-brightcove not-tgx=”true”] Reliance will also invest another 115 billion rupees ($1.4 billion) in the joint venture as growth capital and Disney may contribute certain additional assets after getting regulato

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