Mukesh Ambani’s Reliance secures a major deal with Disney, set to control 51% of its Indian business, reshaping entertainment dynamics.
Mukesh Ambani, India’s richest man and head of Reliance Industries, recently struck a major deal with Walt Disney, marking a significant move in the entertainment sector. Reliance is set to acquire 51% of Walt Disney’s Indian business, making it the country’s largest entertainment company.
The non-binding agreement, signed in London, is expected to be finalized by February next year. After the merger, Ambani will control Disney Star’s business, valued at approximately $10 billion (Rs 83,163 crore). The deal involves discussions between former Disney CEO Kevin Mayer and Reliance’s Manoj Modi.
With this, Ambani aims to establish dominance in India’s entertainment industry, posing a challenge to TV giants and streaming platforms like Amazon Prime. Reliance currently manages TV channels and JioCinema through Viacom18.
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