Reliance, Disney Announce Completion Of Transaction To Form JV - Quick Facts

(RTTNews) - Reliance Industries, Viacom 18 and The Walt Disney Company (DIS) announced that following the approval by the NCLT Mumbai, Competition Commission of India and other regulatory authorities, the merger of the media and JioCinema businesses of Viacom18 into Star India Private Limited has become effective. Apart from the CCI, the deal has been approved by anti-trust authorities in the EU, China, Turkey, South Korea and Ukraine.

The JV is controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney. The deal values the JV at $8.5 billion on a post-money basis, excluding synergies. The JV operates over 100 TV channels and produces 30,000+ hours of TV entertainment content annually.