RIL-Disney JV will ensure unparalleled content at affordable prices: Mukesh Ambani

The Chairman & Managing Director of Reliance Industries shared his excitement for the RIL-Disney JV, stating that the Indian media and entertainment industry is entering a transformational era

by e4m Desk
Published: Nov 14, 2024 7:56 PM | 2 min read

The highly anticipated joint venture between Reliance Industries Limited’s Viacom18 and Disney’s Star India has been completed and become effective on November 14, 2024, the companies have announced. The JV has been approved by the NCLT Mumbai, Competition Commission of India and other regulatory bodies.

Mukesh Ambani, Chairman & Managing Director of Reliance Industries, has shared his excitement for the company's future and the promise it holds for Indian viewers.

"With the formation of this JV, the Indian media and entertainment industry is entering a transformational era. Our deep creative expertise and relationship with Disney, along with our unmatched understanding of the Indian consumer will ensure unparalleled content choices at affordable prices for Indian viewers. I am very excited about the JV's future and wish it all the success," he commented on the newly formed JV.

The transaction values the JV at Rs 70,352 crore (US$ 8.5 billion) on a post-money basis, excluding synergies. At the closing of the transactions noted above, the JV is controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.

The formation of the JV will herald a new era in India’s entertainment industry for consumers. This unique joint venture of Reliance and Disney brings together the companies’ content creation and curation prowess, world-class digital streaming capabilities along with a digital first approach that will help the JV deliver unparallelled content choices at affordable prices to Indian viewers and the Indian diaspora globally.