26 Dec 2023 , 03:15 PM
Reliance Industries and Walt Disney announced that the two companies have entered into a non-binding term sheet for merging their media operations.
According to the source, Reliance-owned Viacom18 would form a step-down company that will absorb a major chunk of Star India’s equity, culminating in a shareholding pattern of 51%:49%. According to the report, Reliance would hold 51% of the amalgamated Indian media conglomerate, while Disney would possess 49%.
Jio Cinema would also be integrated, with Reliance expected to keep a significant interest and pay cash for controlling equity in the amalgamated firm.
Following the signing of the term sheet last week in the United Kingdom, Reliance and Disney are likely to complete the huge entertainment and media merger in India by February 2024, affecting the country’s watching and streaming landscape.
Despite Reliance’s attempt to complete the combination by January, the mega-merger is expected to receive all commercial and regulatory clearances by February.
At around 2.24 PM, Reliance Industries was trading 0.62% higher at Rs 2,580.95 per piece, against the previous close of Rs 2,565.05 on NSE.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.