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(Reuters) - Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its ...
India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal ...
Reuters reported last month that Disney Hotstar's CEO Sajith Sivanandan resigned from the role as business integration gathered pace for the merger. The entertainment division will be led by Kevin ...
In October 2024, Employees of RIL revealed that Disney+ Hotstar and JioCinema will officially merge into a single platform. Back in February 2024, Reliance and Disney agreed on a $8.5 billion merger of their media assets. Nita Ambani will serve as the chairperson of the merged entity while Uday Shankar from Bodhi Tree Systems will be the vice ...
On May 14, 2024, It was reported the deal between Disney and Reliance was approved by National Company Law Tribunal, with the JioCinema streaming service being moved to the Digital18 unit as part of the merger. [33] [34] On 28 August 2024, the CCI has approved the merger of Disney+ Hotstar with Viacom18. [35]
The merger values the India business of the U.S. entertainment giant at just around $3 billion, far lower than the roughly $15 billion valuation when Disney acquired it as part of its Fox deal in ...
According to its terms, Reliance would hold 51% of the merged company in cash and stock, while Disney would own the remaining 49%. For purposes of the merger, a subsidiary of Viacom18 was created to absorb Disney Star through a stock swap, [53] pending ratification and regulatory approval. [54] [55] [56] [57]
Disney’s dominance has been challenged by the Ambani-controlled Viacom18 group and its suite of Jio-branded operations that stretch from mobile phones, to broadband internet and, latterly ...