3Foto© news18.comReliance, Disney India complete media assets merger for ₹70000 crore joint venture
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Reliance Industries Limited (RIL) has completed the merger of its media assets with the India business of Walt Disney for an $8.5 billion ( ₹70,352 crore) joint venture (JV) that will be controlled by the Mukesh Ambani-led conglomerate.
Disney and Reliance logos are seen in this illustration (REUTERS)
As announced earlier, Reliance Foundation Chairperson Nita Ambani will head the JV, in which RIL has invested $1.4 billion ( ₹11,500 crore).
Speaking on the merger, RIL chairman Mukesh Ambani called it “a transformational era” for the Indian media and entertainment industry.
“ With the formation of this JV, the Indian media and entertainment industry is entering a transformational era.
Mukesh Ambani,
Mukesh Ambani’s Reliance, Disney complete Rs 70352 crore media merger,…