Thu Oct 24 10:16:32 UTC 2024: – **Merger Announcement:** Reliance Jio, led by Mukesh Ambani, will shut down JioCinema as it merges with Disney Plus Hotstar after acquiring it.
– **Market Impact:** Post-merger, Disney Plus Hotstar is set to become the largest OTT platform in India, combining the user bases of both apps.
– **User Bases:** Disney Plus Hotstar has approximately 500 million users, compared to JioCinema’s over 100 million. The merger is expected to create a significant entertainment entity.
– **Reasons for Merger:** Reliance Jio prefers to operate a single OTT app to avoid the expense of maintaining separate promotions and recharge packs.
– **Financial Details:** The acquisition deal is valued at around $8.5 billion, and the merged platform may offer up to 100 channels.
– **Benefits for Users:** JioCinema’s subscribers will not need separate subscriptions after the merger, simplifying the user experience and potentially leading to lower recharge rates.

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