In terms of Indian entertainment, Reliance is becoming one of the top players. Now, there is an update that Vistas Media Capital (VMC) might purchase Reliance Entertainment, with an estimated price tag of ₹700 crore to ₹800 crore.
Regarding past deals, Reliance Industries and Disney+ Hotstar merged their digital streaming and television assets in India.
This $8.5 billion merger formed a new entity that includes channels like Colors, StarPlus, Star Sports, and streaming platforms JioCinema and Disney+ Hotstar. Reliance will control 16.34%, Viacom18 will hold 46.82%, and Disney will own 36.84%, with Nita Ambani as Chairperson and Uday Shankar as Vice Chairperson.
Vistas Media Capital, a media content and technology firm based in Singapore, has a strong reputation as it invests in various media and entertainment industries worldwide.
Vistas Media Capital (VMC), a pioneering Asian firm, became notable for listing a Special Purpose Acquisition Company (SPAC) on Nasdaq, which facilitated the reverse merger of Anghami, a leading MENA music streaming platform, in Q4 2021. In 2021, VMC acquired a majority stake in Paperboat Design Studios, an animation company based in India.
In 2020, they committed up to $5 million to Planet Marathi Seller Services, the parent company of the Marathi video streaming platform, Planet Marathi. By November 2023, Kitara Capital, a Middle Eastern global investment group, established a joint venture with VMC’s content division in Abu Dhabi.
There is not much update available about the deal, but follow Binged to stay updated.