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“Groundbreaking Partnership: Reliance and Disney Join Forces in India Media, Creating $8.5 Billion Joint Venture”

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Reliance, its portfolio Viacom18 and Disney are merging their media businesses in India, creating the largest media entity in the South Asian market. Reliance will control and own 16.34% of the joint venture, which it has valued at $8.5 billion. Reliance, which is India’s most valuable firm, said it sees an opportunity to expand and streamline its presence in the Indian fast-growing market by merging its media assets with Disney India. Reliance, which owns more than 60% in Viacom18, plans to invest $1.4 billion into the joint venture for its growth strategy. The “strategic” merger of Reliance and Disney India also unites two leading Indian streamers, JioCinema and Disney+Hotstar.