Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18’s media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore.

Reliance Industries, Viacom18, and Disney have formed a joint venture combining assets like JioCinema, Hotstar, and TV channels Star and Colors. The JV, valued at Rs 70,352 crore, is led by Nita M. Ambani (Chairperson),

Reliance industries Limited (RIL), Viacom18, and The Walt Disney Company announced the effective merger of Viacom18’s media and JioCinema businesses with Star India, following approvals from regulatory authorities, including the NCLT Mumbai and Competition Commission of India.

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.

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,

Media and entertainment heavyweights Reliance Industries (RIL) and Walt Disney have completed the merger of their various Indian media assets - including the Viacom18 and Star India broadcasters - in a deal worth $8.