Reliance Industries Limited (RIL), Viacom 18 and Disney have announced a joint venture to combine Viacom18 and Star India. As part of the deal, Viacom18 will be merged into Star India, creating a powerhouse wielding iconic brands like Colors, StarPlus, Star Sports, and Sports18.
This combined entity, valued at Rs. 70,352 crore (USD 8.5 billion approx.), boasts over 750 million viewers in India and caters to the global Indian diaspora.
RIL will invest Rs. 11,500 crore (USD 1.4 billion approx.) into the JV for expansion, while the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.
Nita M. Ambani will chair the JV, with Uday Shankar, Co-founder of Bodhi Tree Systems (that hold 15.97% of Viacom18) serving as Vice Chairperson. Disney may also contribute certain additional media assets to the JV, subject to regulatory and third-party approvals.
Together, the Reliance-Disney merged entity will have 120 TV channels. The JV will also be granted exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets. Viacom18 has the IPL digital streaming rights from 2023 to 2027, and Disney Star has the 5-year TV broadcast rights for IPL.
Subject to necessary approvals, the transaction is expected to close in late 2024 or early 2025.