Reliance and Disney Announce Completion of Transaction to Form Joint Venture to Bring Together the Most Iconic and Engaging Entertainment Brands in India
Summary
The combination of ‘Star’ and ‘Colors’ on the television side and ‘JioCinema’ and ‘Hotstar’ on the digital front will provide extensive choice of content across entertainment and sports to viewers in India and globally. As media consumption continues to move to an integrated TV-digital ecosystem, the merger of Viacom18 and Star India offers a unique opportunity to reorient the industry to better serve diverse cohorts of consumers across the country. Together, we aim to build India’s largest integrated media platform which will deliver unparalleled experiences in innovative and exciting ways.” The JV will be spearheaded by three CEOs who will lead the company into a new era of ambition and disruption. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services. In addition to media and education, Bodhi Tree expects to invest in other consumer technology sectors such as healthcare that represent significant opportunities but suffer from a lack of capital and innovation.