EU greenlights Disney-Reliance merger

New Delhi: The European Union has approved the creation of Star India (SIPL), a joint venture between Reliance Industries, The Walt Disney Company, and BTS Investment 1, helmed by James Murdoch and Uday Shankar.

This clearance is a critical step towards finalising a deal that will combine the operations and assets of Viacom18, StarPlus, and JioCinema into one of Asia's largest media entities.

The merged entity, valued at an estimated $8.5 billion, will boast over 100 television channels and two streaming platforms, effectively creating a media behemoth with over 750 million viewers across India. 

Under the terms of the merger, Reliance Industries will hold a controlling 63.16% stake, with Disney owning 36.84%.

Nita Ambani, chairperson of Reliance Foundation, will lead SIPL as its chairperson, with Uday Shankar, a former Disney executive, serving as vice chairperson. 

The merger has been in the pipeline for several months, having already received nods from Indian regulatory bodies like the Competition Commission of India and the National Company Law Tribunal.