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.

Disney and Reliance Industries have completed the $8.5B deal to form a media and entertainment giant in India.

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,

RIL will hold a 16.34 per cent stake in the venture while its step-down subsidiary, Viacom 18, will own 46.82 per cent. Disney’s stake is capped at 36.84 per cent

After months of anticipation, Reliance Industries Ltd (RIL), Viacom18 and The Walt Disney Company have announced the merger of their media business. With this, the media and JioCinema businesses of Viacom18 have been merged with Star India.

Reliance Industries owns 16.34% stake in the JV, while its subsidiary Viacom18 holds 46.82% and Disney controls remaining 36.84% in the merged entity.

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