Highlight
- Viacom18 and The Walt Disney Company’s Star India has been officially approved by the NCLT
- This mega-deal, valued at over Rs 70,000 crore
- The combined entity will have access to a vast library of content, including popular OTT platforms, television shows, etc.
The merger between Reliance Industries‘ owned Viacom18 and The Walt Disney Company’s Star India has been officially approved by the National Company Law Tribunal (NCLT) this development comes after the Competition Commission of India (CCI) approved the merger, marking a significant milestone in the Indian media landscape. This mega-deal, valued at over Rs 70,000 crore, paves the way for creating the country’s largest media conglomerate.
Here are the Key Highlights of the Merger:
Combined Entertainment Powerhouses: The merger brings together two of India’s leading media companies, combining their vast content libraries of entertainment, distribution networks, and technological expertise.
Dominant Market Share: The combined entity will hold a significant market share in various segments, including television broadcasting, digital streaming, and film production. This merger could potentially help Reliance Jio to compete with the OTT Gaint including Netflix and Amazon Prime.
Investment in Growth: Reliance has committed to investing Rs 11,500 crore in the joint venture, providing the necessary financial muscle to compete aggressively and expand its reach.
A New Era in the Indian Entertainment Market
The merger could create a new era of entertainment in India. The combined entity will have access to a vast library of content, including popular OTT platforms, television shows, movies, and digital originals. With Viacom18 and The Walt Disney Company’s Star India having a vast user base in India, the combined entity will likely impact the Indian media industry.
Moreover, the merger will strengthen the position of Indian content in the global market. With Disney’s extensive distribution network and international reach, Indian productions will have greater exposure to audiences worldwide.
Also Read: JioTV+ app with over 800 digital TV channels for Reliance Jio users
Conclusion
This merger between Reliance Industries and The Walt Disney Company might have a great impact on the Indian media industry. The Jiont entity promises to create a powerful force in the entertainment sector. The Joint venture will be headed by Nita Ambani, wife of billionaire and RIL Chairman Mukesh Ambani, while Uday Shankar will be the Vice Chairperson.
