Walt Disney and Reliance Industries signed a non-binding term sheet in London, moving ahead with plans to merge their media operations in India. The proposed joint venture, where RIL would hold a majority stake, aims to create one of the country’s largest media entities, competing with Zee Entertainment, Sony, Netflix, and Amazon Prime. The 51:49 stock-and-cash consolidation, favoring RIL, is expected to conclude by February. The deal could benefit Disney, addressing losses from its Hotstar streaming app. The new board is likely to include directors from both companies, with a capital investment estimated at $1-1.5 billion.
Disney and Reliance Set to Merge Indian Media Operations
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