In a groundbreaking move, Reliance Industries Limited (RIL), Viacom18, and Disney have announced the official formation of a new joint venture, following approvals from regulatory authorities in India and around the globe. The venture, valued at ₹70,352 crore (approximately $8.5 billion), marks a new chapter in India’s entertainment ecosystem.
With an investment of ₹11,500 crore (around $1.4 billion) by RIL, the new entity combines Viacom18’s media assets with Disney’s Star India, creating a formidable media powerhouse. Nita M. Ambani will chair the JV, alongside Uday Shankar as Vice Chairperson.
The joint venture merges the power of Star and Colors TV channels with the digital reach of JioCinema and Hotstar, aiming to provide diverse entertainment and sports content to millions of Indian viewers. It’s expected to generate approximately ₹26,000 crore in revenue, operating over 100 TV channels and producing 30,000+ hours of content each year.
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Mukesh Ambani, Chairman of RIL, expressed his excitement, calling the venture a “transformational era” for Indian media. Disney CEO Robert Iger highlighted the benefits of a strengthened portfolio and enhanced viewer experiences.
Leading this endeavor will be CEOs Kevin Vaz, Kiran Mani, and Sanjog Gupta, who will focus on entertainment, digital, and sports segments respectively. This collaboration promises a new age of innovative, affordable content for Indian audiences and the global Indian diaspora.
