The Ambani-led company has invested Rs 11,500 crore (USD 1.4 billion) for its growth.

The merger integrates Viacom18’s media and JioCinema businesses into Star India Private Ltd (SIPL), forming a new joint venture. Nita Ambani will be the chairperson of the JV, with Uday Shankar, as vice chairperson,

Reliance Industries and Walt Disney on Thursday completed the $8.5 billion merger of their Indian media assets, which have been split into three divisions, with each unit having its own CEO. The companies said the newly formed divisions are entertainment,

India’s entertainment landscape shifted Thursday as Reliance Industries and Disney completed their long-awaited media merger, creating an Indian powerhouse valued at $8.5 billion. The deal combines Disney’s Star India with Reliance’s Viacom18 and streaming platforms JioCinema and Hotstar.

The joint venture will be one of the largest Media & Entertainment companies in India with pro forma combined revenue of approximately $3.1 billion.

Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India. This brings together Reliance’s JioCinema business with Disney’s Star India, which houses Disney+ Hotstar,

Reliance Industries Limited (RIL) and Disney (NYSE:DIS) have received final approvals from competition regulators based in Mumbai for their $8.5B Indian joint initiative, which will leverage over 100 TV channels and have access to over 50M subscribers on digital streaming platforms and a portfolio of sports rights,