Thu Nov 14 14:40:00 UTC 2024: ## Disney Star India and Reliance’s Viacom18 Merge to Create India’s Largest Entertainment Network
**Mumbai, India** – In a landmark deal, Disney Star India and Reliance Industries’ Viacom18 have merged to create India’s largest entertainment network. The merger, announced on Thursday, November 14th, combines Disney’s streaming service Hotstar with Reliance’s Jio Cinema, resulting in a platform with over 750 million viewers across 120 channels and two over-the-top (OTT) platforms.
Reliance has invested ₹11,500 crore in the joint venture, which has been in the works for almost a year. The deal, valued at ₹70,352 crore, will see Reliance holding a 63.16% stake in the newly formed entity, while Disney will retain a 36.84% stake.
Nita Ambani will chair the company, while Uday Shankar will serve as vice-chairman, providing strategic guidance. The joint venture will be led by three CEOs, each responsible for different verticals: Kevin Vaz (Entertainment), Kiran Mani (Digital), and Sanjog Gupta (Sports).
“With this joint venture, the Indian media and entertainment industry is entering a transformational era,” said Mukesh Ambani, chairman of Reliance Industries. “I am very excited about the future of the joint venture and wish it every success.”
The merger combines Disney Star’s 80 channels with Viacom18’s 40 channels, bringing a total of 120 channels under the umbrella. While some channels may be discontinued, the combined entity will also boast two OTT apps – Disney Hotstar and Jio Cinema.
Viacom18 currently holds the TV rights for BCCI-managed cricket matches, while Disney Star retains the IPL broadcast rights until 2027. Reliance, meanwhile, holds the digital rights to IPL matches on its Jio Cinema platform.
Reliance’s news channels, which are part of the Network 18 group, are not included in the deal. The joint venture will also have exclusive rights to distribute Disney films and productions in India, along with a license for over 30,000 Disney content assets.
The new OTT app is expected to be called JioStar, and Reliance has already registered the domain JioStar.com. The merger is likely to lead to the integration of Jio Cinema and Hotstar apps under the JioStar brand, although the company has yet to officially confirm this.
Reliance Industries, India’s largest private sector company with a market cap of ₹17,15,498.91 crore, is active in various sectors, including hydrocarbons, refining, petrochemicals, renewable energy, digital services, and retail.
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