New Delhi: The proposed merger between Reliance Industries’ Viacom18 and The Walt Disney Company’s Star India is on track to be finalized by the end of the third quarter of this fiscal year. Following regulatory approvals from the Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT), the merger will create India’s largest media conglomerate.
As per the outlined plan, Viacom18 and JioCinema’s media operations will be transferred to Digital18. Subsequently, V18 Undertaking will be demerged from Digital18 and transferred to Star India. Additionally, the government has approved the transfer of licenses related to non-news and current affairs TV channels held by Viacom18 to Star India.
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The combined entity, valued at over Rs 70,000 crore, will encompass two streaming services and 120 television channels. Reliance Industries and its affiliates will hold a controlling stake of 63.16%, while Walt Disney will own the remaining 36.84%.
Nita Ambani, wife of billionaire Mukesh Ambani, is slated to lead the joint venture as chairperson, with Uday Shankar serving as vice-chairman. The merger is anticipated to provide the combined entity with a significant competitive advantage in the Indian media market, enabling it to effectively compete against rivals such as Sony and Netflix.
