Reliance, Disney India complete media assets merger for ₹70000 crore joint venture

Reliance Industries Limited (RIL) has completed the merger of its media assets with the India business of Walt Disney for an $8.5 billion ( ₹70,352 crore) joint venture (JV) that will be controlled by the Mukesh Ambani-led conglomerate.

Disney and Reliance logos are seen in this illustration (REUTERS)

As announced earlier, Reliance Foundation Chairperson Nita Ambani will head the JV, in which RIL has invested $1.4 billion ( ₹11,500 crore).

Speaking on the merger, RIL chairman Mukesh Ambani called it “a transformational era” for the Indian media and entertainment industry.