The merger between Reliance Industries’ Viacom18 and Walt Disney’s Star India, valued at $8.5 billion, is set to conclude on Monday, marking a milestone in the media sector. This is from media sources, either Disney or Reliance have not given any such Press Release that would stamp this news.
The merger includes more than 100 television channels and two streaming platforms, creating a dominant entity in the industry. The merger was first announced in February 2024, following exclusive discussions in London the previous December.
The merged company will be named Star India, with Nita Ambani presiding over the board and Uday Shankar, co-founder of Bodhi Tree Systems, as vice-chairman. Reliance will own a 56% stake in the new company, Disney will hold 37%, and Bodhi Tree Systems will retain a 7% stake. Kevin Vaz and Kiran Mani are set to serve as co-CEOs of the combined entity, with Vaz overseeing broadcast and entertainment and Mani leading digital and sports operations.
The Competition Commission of India (CCI) approved the merger on August 28, with specific conditions. Both companies agreed to divest seven regional channels to avoid monopolistic market share in certain languages like Bengali, Marathi, and Kannada. The companies have also promised to not hike unreasonably in advertising rates.
If the merger really completed this week then it would be a sudden shock to the Indian entertainment space. Let’s see if it is actually true or not.