Reliance Industries Limited (RIL) is tied up with the Walt Disney Company to combine into a force worth $8.5 bn. Mukesh Ambani’s wife Nita is set to be the chairperson of the entity. The Ambani-led group is set to infuse Rs 11,500 cr in the merged entity.
Reliance-Disney join hands for monopoly in India market
Bob Iger, CEO of Walt Disney said: “Reliance has a deep understanding of the Indian market and consumer, and together we will create one of the country’s leading media companies, allowing us to better serve consumers with a broad portfolio of digital services and entertainment and sports content.”
This merger marks a significant development in the Indian sports business. With unparalleled financial resources and control over coveted broadcasting rights, the combined entity will undoubtedly shape the future of sports broadcasting and potentially influence how Indian viewers experience their favorite sporting events.
The news comes on the heels of the failed Sony-Zee merger, making this Reliance-Disney partnership even more significant.
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