Reliance and Disney Announce Strategic Joint Venture To Bring Together The Engaging Entertainment Brands In India
Portfolio Pulse from Benzinga Newsdesk
Reliance Industries, Viacom18, and The Walt Disney Company (NYSE:DIS) have announced a joint venture to merge their digital streaming and television assets in India, creating a leading platform for entertainment and sports. The JV, valued at approximately $8.5 billion post-money, will see Reliance investing around $1.4 billion. Disney will own 36.84% of the JV, which will control over 750 million viewers in India and cater to the Indian diaspora globally. The JV aims to lead digital transformation in the media and entertainment industry in India, offering a wide range of content including Disney's films and shows.
February 28, 2024 | 1:32 pm
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Disney enters a strategic joint venture with Reliance Industries and Viacom18, merging digital streaming and TV assets in India. Disney to own 36.84% of the JV, enhancing its footprint in the Indian market.
The formation of the joint venture with Reliance Industries and Viacom18 represents a significant strategic move for Disney, allowing it to expand its presence in the rapidly growing Indian market. By merging its assets with those of its partners, Disney is positioned to become a dominant player in the entertainment and sports streaming sector in India. This move is likely to be viewed positively by investors, as it opens up new revenue streams and audience engagement opportunities in a high-growth market.
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