Strategic Partnership With Disney Creates India Media Giant

By Bobby Samwell • Wednesday, February 28 10:28 • Permanent Link

Reliance Industries Limited ("RIL"), Viacom 18 Media Private Limited ("Viacom18"), and The Walt Disney Company ("Disney") have announced a strategic joint venture to merge their respective digital streaming and television assets in India. RIL will invest ₹11,500 crore (~US$1.4 billion) into the joint venture, valuing it at ₹70,352 crore (~US$8.5 billion) on a post-money basis. The joint venture will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18, and 36.84% by Disney.

The joint venture will be one of the leading TV and digital streaming platforms for entertainment and sports content in India, reaching over 750 million viewers across India and the Indian diaspora worldwide.

The key figures for Reliance Industries Limited for the year ended March 31, 2023, were a consolidated revenue of ₹9,74,864 crore (US$118.6 billion), cash profit of ₹1,25,951 crore (US$15.3 billion), and net profit of ₹73,670 crore (US$9.0 billion).

The Walt Disney Company had annual revenues of $88.89 billion in its fiscal year 2023.

Star India, a leading media & entertainment company in India, reaches more than 700 million viewers in nine different languages every month and operates the Disney+ Hotstar streaming platform.

The joint venture is expected to be completed in the last quarter of calendar year 2024 or the first quarter of calendar year 2025, subject to regulatory, shareholder, and other customary approvals. Following these announcements, the company's shares moved 0.9%, and are now trading at a price of $110.36. If you want to know more, read the company's complete 8-K report here.

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