Two of the biggest entertainment powerhouses Disney and Reliance have officially announced the completion of the transaction to form the merger between the two production houses.
This might change the landscape of streaming and entertainment in various ways as the venture aims to streamline entertainment and grow the linear TV space across entertainment and sports in the country.
Reliance takes the front seat in the merger with having powers to operate and consolidate the joint venture. The company has also invested ₹ 11,500 crore in growth capital in the Joint Venture.
With this merger, Star and Colors television services will also be combined alongside Hotstar and JioCinema on the OTT side. The merger will also combine the services offered by both entertainment giants in terms of affordable prices, high-quality content, innovative layout and streamlined services.
The joint venture aims to be the future of the Indian entertainment sector and will certainly send shock waves to other OTT and television streaming services shortly.