Walt Disney and Reliance Industries have agreed to merge their media operations in India, with Reliance expected to own a 61 per cent stake in the combined entity, Bloomberg reported on Sunday, citing sources familiar with the matter.
The stake split between the partners may change, depending on how Disney’s other local assets are factored in by the time the deal is closed. The latest milestone, along with other details, are likely to be announced early this week.
Disney has been grappling with challenges in India such as retaining subscribers and securing coveted media assets, while Reliance has cornered a larger slice of the local media and entertainment businesses in recent years.
Together, they would make a formidable media behemoth in one of the world’s fastest-growing entertainment markets. This transaction is part of the larger consolidation efforts in the Indian media and entertainment space.
