Disney India and Reliance’s Viacom received the approval from the CCI and the NCLT for the merger of their media assets, earlier this year
The combined entity will have 120 channels and two streaming apps and will reportedly have a user base of more than 750 Mn
A regulatory filing by the Mukesh Ambani-led group stated that the merger of media assets of Reliance and Disney India is expected to be completed by the end of the Q3 of FY25
Disney and Reliance reportedly plan to stream the live sports content of the merged entity on Disney’s Hotstar app.
Disney+ Hotstar will stream all live sports events, and the process of transitioning from JioCinema was conveyed by Hotstar chief Sajith Sivanandan during a townhall meeting this week, Reuters reported, citing sources.
While Disney declined to comment on the development, Inc42’s queries to Reliance did not elicit any response till the time of publishing the story.
It is pertinent to note that the two streaming apps hold the rights for live streaming a number of sports events. In cricket, which is one of the most popular sports in the country, JioCinema has the streaming rights for the Indian Premier Leagues (IPL) and the domestic matches of the Indian cricket team.
Earlier this year, Disney India and Reliance’s Viacom received the approval from the Competition Commission of India (CCI) and the National Company Law Tribunal (NCLT) for the merger of their media assets. The combined entity will have 120 channels and two streaming apps and will reportedly have a user base of more than 750 Mn.
Once the merger process is completed, Reliance will own 56% of the joint venture (JV) through its multiple entities. Disney will have a 37% stake in the joint venture, while Bodhi Tree will own the remaining 7%.
Reliance Foundation chairperson Nita Ambani will helm the JV, while Uday Shankar will be the vice-chairperson of the merged entity.
Earlier this week, a regulatory filing by the Mukesh Ambani-led group stated that the merger of media assets of Reliance and Disney India is expected to be completed by the end of the third quarter of FY25.
“The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in Q3 of FY25,” it said in its quarter earnings statement.
The merger will create the country’s largest media empire worth over INR 70,000 Cr.
