Posted 2/28/2024, 4:24:47 PM
Disney and Reliance Merge India Media Businesses in $8.5B Deal, Valuing Star at a Third of 2019 Price
- Disney is merging its Star India service with Viacom18, owned by Mukesh Ambani's Reliance Industries, in an $8.5 billion deal
- Reliance will lead the new business and inject $1.4 billion to help it grow
- The combined firm would have over 120 channels and serve 750 million customers in India
- The deal values Star India at less than a third of what it was worth in 2019 when Disney acquired it
- Nita Ambani, wife of Mukesh Ambani, will serve as chairperson of the new company