India Current Update

Disney and Reliance Industries reach a legally binding merger agreement in India: Report

<p>As the US entertainment giant recasts its strategy amid fierce competition in the nation, Walt Disney and Reliance Industries have inked a legally binding agreement to combine their media activities in India, according to individuals familiar with the situation.</p>
<p><img decoding=”async” class=”alignnone wp-image-445272″ src=”” alt=” disney and reliance industries reach a legally binding merger agreement in india r” width=”1020″ height=”574″ title=”Disney and Reliance Industries reach a legally binding merger agreement in India: Report 9″ srcset=” 400w,×220.png 390w,×84.png 150w” sizes=”(max-width: 1020px) 100vw, 1020px” /></p>
<p>The persons, who wished to remain anonymous since the information is confidential, said that the media division of Reliance, helmed by billionaire Mukesh Ambani, and its affiliates are anticipated to possess at least 61% in the combined company. Disney is likely to own the remaining shares.</p>
<p>The individuals claimed that the most recent milestone and further information would probably be revealed early this week. A Disney spokesman said they would not comment. On the signing of the legally binding agreement, a Reliance representative remained silent.</p>
<p>According to the sources, the distribution of the partners’ stakes might alter based on how Disney’s other local holdings are taken into account when the purchase closes. Local press sources state that Reliance may explore purchasing Tata Play, a broadcast service provider in which Disney holds a minority share.</p>
<p>Reliance has recently taken a bigger share of the Indian media and entertainment industry, whereas Disney has been struggling to hold onto customers and acquire desired media assets. When combined, they would create a powerful media empire in one of the fastest-growing marketplaces globally.</p>

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