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Disney, RIL sign binding pact to merge media operations in India
The Business Guardian
|February 26, 2024
According to sources familiar with the matter, Walt Disney Co. and Reliance Industries Ltd. have reached a binding agreement to merge their media operations in India. This move comes as the US entertainment giant reevaluates its strategy amidst fierce competition in India, the world’s most populous country.
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Reliance’s media unit, controlled by billionaire Mukesh Ambani, and its affiliates are anticipated to hold a minimum of 61% stake in the combined entity, with Disney holding the remainder, said the sources, who requested anonymity as the information is not public. The final details, including the stake split between the partners, are expected to be disclosed early this week.
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Govt will ensure...
It also tends to raise our current account deficit,” he said.
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