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Reliance, Walt Disney forms JV worth Rs 70,000 cr
The Daily Guardian
|November 15, 2024
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore.
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The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
The venture, formed after the merger of the media and JioCinema businesses of Viacom18 into Star India, "has become effective". It has allotted shares to Viacom18 and RIL as consideration for the assets and cash, respectively.
Dit verhaal komt uit de November 15, 2024-editie van The Daily Guardian.
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