Reliance Industries Limited and The Walt Disney Company have announced the completion of their merger, forming a joint venture (JV).
This JV is valued at approximately ₹70,352 crore.
This new entity will be led by three CEOs: Kevin Vaz, Kiran Mani, and Sanjog Gupta, each taking charge of different segments within the organization.
Leadership Roles at Reliance-Disney Joint Venture
Kevin Vaz will head the entertainment organization across platforms, leveraging his extensive experience in the media and entertainment industry.
Kiran Mani will oversee the combined digital organization, bringing his expertise in digital innovation to the forefront.
Sanjog Gupta will lead the combined sports organization, capitalizing on his knowledge of sports broadcasting and rights.
The JV results from the merger of Viacom18 Media Pvt. Ltd’s media and JioCinema businesses into Star India Pvt. Ltd.
RIL has invested ₹11,500 crore in the JV for its growth, with Viacom18 and Disney holding significant stakes in the new entity.
Nita M. Ambani will serve as the JV’s chairperson, with Uday Shankar as vice chairperson, providing strategic guidance.
The formation of this JV marks a transformational era for the Indian media and entertainment industry.
The combined entity will operate over 100 TV channels and produce more than 30,000 hours of TV entertainment content annually.
The JioCinema and Hotstar digital platforms will have an aggregate subscription base of over 50 million. They will be offering extensive content choices at affordable prices.
Statements from Key Figures
Mukesh Ambani, chairman and managing director of RIL, expressed his excitement about the JV, highlighting the deep creative expertise and relationship with Disney.
Robert A. Iger, CEO of The Walt Disney Company, echoed this sentiment, emphasizing the JV’s potential to create one of the top entertainment entities in the country.
The appointment of Kevin Vaz, Kiran Mani, and Sanjog Gupta as co-leaders of the Reliance-Disney JV signifies a new chapter.
Their combined leadership is expected to drive innovation, growth, and market disruption, setting new standards in the industry.
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