
Reliance Industries Limited (RIL), Viacom18, and Disney have announced the merger of Viacom18’s media and JioCinema businesses with Star India, following approvals from regulatory authorities, including the Competition Commission of India (CCI). The joint venture (JV) is valued at ₹70,352 crore (~$8.5 billion), making it one of India’s largest media and entertainment companies.
RIL has invested ₹11,500 crore (~$1.4 billion) into the JV, with share allocations to Viacom18 and RIL as compensation. This new entity is now controlled by RIL, with ownership stakes of 16.34% for RIL, 46.82% for Viacom18, and 36.84% for Disney.
Nita M. Ambani will be the Chairperson of the JV, with Mr. Uday Shankar as Vice Chairperson providing strategic guidance to the JV.
The JV brings together iconic brands like Star and Colors on TV and JioCinema and Hotstar on digital platforms, providing vast content choices across entertainment and sports. The JV’s combined revenue is approximately ₹26,000 crore (~$3.1 billion) as of March 2024. With over 100 TV channels, a 50-million digital subscription base, and extensive sports rights, this venture is set to redefine India’s entertainment landscape for both domestic and global audiences.