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

Reliance Industries has finalized a joint venture with Disney, merging the media and JioCinema businesses of Viacom18 into Star India Private Limited. Reliance has invested ₹11,500 crore in this venture, which is valued at ₹70,352 crore, with Reliance holding a 16.34% stake. The JV aims to lead the digital streaming transformation in India, combining iconic brands like Star and Colors with JioCinema and Hotstar. It is set to become a major player in the media landscape, boasting a pro forma revenue of ₹26,000 crore and a portfolio that includes over 100 TV channels and extensive sports rights.