Reliance Industries Limited — JV/Acquisition, 14-11-2024: Acquisition

Reliance has finalized key transactions to establish a joint venture with Disney, aimed at consolidating its entertainment offerings in India. The company sold its 65% stake in Football Sports Development Limited to Viacom18 for ₹94.54 crore while acquiring a 63.16% stake in Star Television Productions Limited for ₹211.59 crore, making STPL a subsidiary. Additionally, Reliance acquired Paramount Global's 13.01% stake in Viacom18 for ₹4,286 crore, increasing its ownership to 70.49%. This strategic expansion is set to bolster Reliance's market position and enhance synergies across its media assets.