This is a significant step in the merger between Viacom18 and Star India, Disney’s Indian unit, to form India’s largest television and digital streaming entity.
On February 28, 2024, Reliance Industries Limited (RIL) first announced the merger plan, with the Competition Commission of India (CCI) granting approval on August 28, 2024. The National Company Law Tribunal (NCLT) also cleared the Viacom18-Star India deal on August 30, 2024. The Ministry of Information and Broadcasting’s final approval came on September 27, 2024.
The Reliance-Disney joint venture is valued at Rs 70,350 crore ($8.5 billion) and will compete with major players like Sony, Netflix, and Amazon, offering over 120 TV channels and two streaming services. RIL will inject Rs 11,500 crore ($1.4 billion) into the venture, and Nita Ambani will chair the new entity, with Uday Shankar serving as Vice Chairperson.
This venture aims to revolutionize India’s entertainment industry, with a combined viewership of over 750 million. Mukesh Ambani has called this merger the “beginning of a new era” for Indian entertainment, emphasizing the digital-first approach and affordable world-class content.
